Home owners and buyers take note – Interest rate hike

May 23, 2022 | , , , | News

Home loan finance will be more expensive - the South African Reserve Bank announced last week a 0.5% interest rate hike, taking the prime rate to 8.25%.
PAIA

Home loan finance will be more expensive – the South African Reserve Bank announced last week a 0.5% interest rate hike – taking the prime rate to 8.25%.

So how much more will you pay? On a bond instalment of R1 000 000,00 at prime rate, the monthly instalment will increase by around R311,00.

For a detailed discussion, please read this article.

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