2.5 Years ago, interest rates were at an all time high. As such, there are many customers who are still paying mortgage rates of 1.5% to 2%.
For Illustration on savings:
Monthly installment (2% of $1.2 Million loan) is $4,436
Monthly installment based on current rates in market is $3,860.
The difference of $576 per month will bring you a savings of close to $7,000 a year.
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