Group 1 - The reduction in mortgage rates directly impacts the amount saved on repayments, which depends on the rate decrease and the chosen repayment method [3][4] - For a 30-year mortgage with a rate drop from 5.5% to 5%, monthly payments can decrease from 3393 to approximately 3220, resulting in total interest savings of over 62,000 [3] - In the case of an equal principal repayment method, the first month's payment would drop from 4305 to 4125, leading to total interest savings of around 75,000, although this method has higher initial payments [3][4] Group 2 - Some banks are allowing adjustments to existing mortgage rates, particularly for first-time home loans, but borrowers should consider details like prepayment penalties and repricing cycles [4] - The essence of a mortgage is long-term debt, and while lower interest rates can save money, it may be more beneficial to invest excess funds in low-volatility index funds or optimize asset allocation [4] - The key factors in determining how much can be saved on a 600,000 mortgage are the extent of the rate decrease and the repayment method chosen [4]