freedomnow Posted March 29, 2017 Share Posted March 29, 2017 Can anyone please advise on a fixed rate mortgage vs variable deal below in current climate going forward April 2017 ? Person I know has been offered on a 30-year mortgage zero down. Variable yearly (Y) rates 1-5 at :- Y1 2.99% Y2 2.99% Y3 4% Y4 4.75% Y5 MRR (-1) Y6 Variable at prevailing market rate Link to comment Share on other sites More sharing options...
freedomnow Posted March 29, 2017 Author Share Posted March 29, 2017 I'm not sure what MRR (-1) means right now on year 5. I don't know if that is a tracker rate linked to BoT rate or if it is the dreaded UK SVR style that has come in, where they can choose whatever rate they so desire at any time during the repayment period... Link to comment Share on other sites More sharing options...
trogers Posted March 29, 2017 Share Posted March 29, 2017 MRR - minimum retail rate MLR - minimum lending rate Usually MRR = MLR + 1.5% Link to comment Share on other sites More sharing options...
freedomnow Posted March 29, 2017 Author Share Posted March 29, 2017 (edited) 25 minutes ago, trogers said: MRR - minimum retail rate MLR - minimum lending rate Usually MRR = MLR + 1.5% Thanks ! Is that MLR regulated/tied to some official BoT rates etc ? Edited March 29, 2017 by freedomnow Link to comment Share on other sites More sharing options...
swissie Posted March 29, 2017 Share Posted March 29, 2017 To make a comparison, one would need a quote for a 30 y fixed rate from the lender. Loan in THB, US$ or what? Cheers. Link to comment Share on other sites More sharing options...
trogers Posted March 29, 2017 Share Posted March 29, 2017 8 hours ago, freedomnow said: Thanks ! Is that MLR regulated/tied to some official BoT rates etc ? There is correlation, but not 100%. The banks are also influenced by rates abroad. But it will rise due to an exodus of foreign money when the US raises their rates. Link to comment Share on other sites More sharing options...
freedomnow Posted March 30, 2017 Author Share Posted March 30, 2017 23 hours ago, swissie said: To make a comparison, one would need a quote for a 30 y fixed rate from the lender. Loan in THB, US$ or what? Cheers. Thai baht local lender. Have not obtained the fixed rate quote yet. Link to comment Share on other sites More sharing options...
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