[Friendly Economy] Fluctuating interest rate reversal ... 'How to transfer a loan' How?
Wednesday is a friendly economy, Kwon Ai-ri is out. I think there are a lot of people who are worried about having to change loans because the interest rate on mortgage loans is falling too much. What do you want to do? Exactly fixed interest rates have fallen.
Wednesday is a friendly economy, Kwon Ai-ri is out. I think there are a lot of people who are worried about having to change loans because the interest rate on mortgage loans is falling too much. What do you want to do?
Exactly fixed interest rates have fallen. So I would like to divide into three. If you are already paying a mortgage loan at a fixed interest rate, it is time to look into it once.
The minimum fixed rate of mortgage loans available to commercial banks today is close to the record low of almost 2016. Mid-2%.
Even when compared to just one year ago, there is a difference of more than 1 percentage point. In the first half of last year, I borrowed 200 million won as a mortgage loan. If you take this right now, you will earn less than two million won per year.
If you are going to change, you should first look at the modest redemption fee, which you can see as a contract termination fee.
The modest redemption fee starts at about 1% of the total amount of the loan immediately after the loan starts, and disappears within three years. Those who have been in the loan for about two years will not have much left.
If the burden of interest burden is greater than the burden of the commission, there is little reason to remain in the product now. However, since August 2017, the ratio of home mortgage loans and LTV have increased, and many of them have not received more than 40% of the house price.
Those who have borrowed money in the area before then will be asked again. Though there is a good chance that my mortgage value will rise because there are more house prices in these areas than two years ago.
If my previous loan amount was more than 40% of the house price, the increase in house prices, the increase in mortgage value, may be less than the amount you can borrow now. This is different from each other, so you have to see it once.
I can not borrow money more than I borrowed before. That's the story. If you are a mortgage lender with variable interest rates, are you paying more interest than fixed interest now?
Yes, this is a phenomenon that does not work well, so I have a lot of talk about the reversal. Now in the second half of the year, the variable rate of mortgage loans on the market is higher than fixed.
The reason for this in time is that I can not tell you today (19th), but nowadays, the fluctuation is almost 1% higher.
So, secondly, floating rate borrowers are benefiting from a change to a fixed rate, and there is no commission fee when they change from fixed to fixed.
Moreover, the fixed rate is stable. The financial authorities have therefore consistently sought to borrow at a fixed rate whenever possible.
Even when the fixed rate is higher than the fluctuation rate, it is advisable to do so, and you may think that it is necessary to hesitate in the yard where the reversal phenomenon is now happening.
However, since the loan is usually a long-term contract, I would like to ask you to think about it more with your own circumstances.
Since there is a possibility that the variable interest rate level will be lowered further, we need to see whether this reversal will continue in the future. There is a fee even if you want to come back to change once you go to fixed.
The governor of the Bank of Korea, Lee Joo-yeol, who has been keeping a close eye on the possibility of a rate cut, also suddenly suggested last week that it could be cut.
As long as the benchmark interest rate is decided, the minutes of the Monetary Policy Committee last month were released yesterday.
Although it is still a minority opinion, it is estimated that the base rate cut will be implemented this year due to economic conditions.
Some of the places where the situation is relatively harder now are in a report that it could be cut twice next year.
And finally, I told you to wait until after the summer if you can postpone the loan here. The calculation method for the balance of cash, which is part of the variable interest rate calculation method, will change from next month.
To be able to get lower. Existing variable interest borrowers who want to apply the new calculation method can change without a modest repayment fee.
If you have a variable interest rate loan, you can look at the interest rate outlook a little more and decide that it will be fine.
So if I get a new loan now, should I get it fixed, should I get it changed?
Fixed interest rates have been more stable, and now the reversal rate is lower than the floating rate, and the interest rate is almost the lowest.
Naturally, new lenders have better fixed rates. However, I need money right now among the borrowers, but I can pay it back soon. There are those who have these conditions.
Variable interest rate loans are faster. There is also an expectation of interest rate cuts, so if you are able to repay in a short period of time, you should look more closely and choose between the two.