According to Eqtesadnews, in line with the downward trend in bond prices last week, another record was set in this market. 29 Azar, with a decrease of 1,500 Tomans in the price of bonds compared to the previous day, brought this amount to its lowest level in autumn and the fourth record of cheapness. Mortgage In the last week.
A decrease in this amount caused the cost of the loan Housing For single people applying for a loan, compared to the same situation last month, it has decreased by 28% and reached the range of 16 million Tomans. But what effects has this reduction had on married people, and what changes has it made to mortgage interest rates?
Housing bank bonds are distributed to married and single people to obtain a mortgage. The value of each bond is discovered in the mortgage buying and selling market and the credit of each of them is 500 thousand Tomans. Now this price has reached its lowest point in the fall today.
The price of these bonds has decreased by 1,500 tomans today compared to the previous day and reached 57,800 tomans.
Since Maskan Bank has announced a loan amount of 140 million Tomans for singles and 240 million Tomans for married people, single people will need to buy 280 sheets and married people will need 480 sheets.
Accordingly, the cost of a mortgage for single people today is 16 million and 200 thousand tomans and for married people is 27 million and 750 thousand tomans.
The downward trend in the cost of mortgages caused this amount to fall below 28 million tomans for married people and set a record for cheap mortgages in the fall.
A comparison of mortgage costs for singles and married couples shows that the cost has dropped by 28% compared to the same situation last month. But changes in mortgage costs have also pushed interest rates below 21 percent.
Effective mortgage interest rates
Internal rate of return is one of the standard methods for evaluating economic plans. This method tries to reduce the cash flow at an unknown rate of return to the current rate. The basis of this rate is based on, for example, what is the value of a certain amount in the future according to the rate of return discovered at the present time.
According to the above-mentioned explanations, with the deduction of the cost of preparing papers for single people and married people from the amount of mortgages, the effective interest rate for single people will no longer be 17.5%.
In this regard, the mortgage interest rate was recorded at 20.67% for singles and 20.65% for married people on the 29th of Azar. This figure, like the cost of mortgages, had its lowest level in the fall. A comparison of mortgage interest rates with similar positions last month shows that the figure has fallen by more than 1 percentage point.
The total cost of the mortgage over 12 years
An effective interest rate means that individuals must repay more than the loan they originally borrowed over the next 12 years. In this regard, finally, the net expenses of single people who apply for a mortgage on the 29th of Azar by purchasing TSE bonds and have to repay it to the bank within 12 years will be equal to 179 million and 300 thousand Tomans. This figure for married people is estimated at 327 million and 700 thousand tomans.
Comparing these costs with the figures recorded yesterday shows that the amount that single people have to pay to the Housing Bank for a loan over a period of 12 years has decreased by 416 thousand Tomans compared to Wednesday, December 17th. This reduction has been registered for married couples applying for a loan of approximately 714 thousand Tomans.