Generally, the monthly payment will not be calculated at the new interest rate until the beginning of the year.

Suppose you haven't applied for a loan yet, congratulations, you can save some interest.

The original 5.9%, now 5.65%, assuming 10 year, 320,000, average capital;

The first month, the original 4240; Monthly decrease13.11;

Now 4173.33; Decrease month by month12.56;