Yesterday, the South African Reserve bank announced that the REPO rate is to remain unchanged. That means that the prime interest rate on home loans also remains unchanged at 9%
Home loans interest rates at current levels are still the lowest in 30 years, therefore if you are a first time home buyer and want to purchase, now is the time to enter the property market. Currently it's a buyer's market as there's an over supply of properties.
Banks are strict on granting home loans but it's not impossible if you have a professional bond originator on your side.
If you need help or information about getting a home loan approved, don't hesitate to contact me.
Good thing that nothing has changed. How is South Africa dealing with the whole Euro Crisis and the potential for another dip now eh?
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This is even more evidence that interest rates are close to the bottom of their cycle, which has made home-ownership much more affordable in recent times.With rates remaining unchanged, you may not see any extra money in your pocket every month if you already have a bond. But, you can change that by applying for a better interest rate on your bond that will lower your monthly repayments.
ReplyDeleteI've heard that by this year home loans will still remain an unchanged rate too. Thanks to the lender for being so generous about it. Home Loans will always be a good choice.
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