News Formal

How much it costs to finance a R1 million bond at the current interest rate

  • 📰 BusinessTechSA
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 61%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

Despite the decision by the SARB to hold interest rates, financing a bond is still 40% more expensive compared to only 19 months ago.

While those with a mortgage in South Africa can breathe a sigh of relief, given the pause in interest rates for July, they are still paying a lot more compared to just 19 months ago, with a R1 million bond now costing over R3,000 more to finance at the current interest rate.

Chairman of the Seeff Property Group, Samuel Seeff, said that holding the interest rate was the correct decision given that inflation has, against expectation, been coming down rapidly over the last three months to 5.4% in June and is now within the central bank’s 3%-6% target range. The higher interest rate has also driven down property sales volumes, even in the Cape market, which has been strong.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 24. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Independent Newspapers set to cut at least 40% of its staff | BusinessIndependent Newspapers, the publisher of titles such as The Cape Times, The Star, Isolezwe and The Mercury, has announced it is now looking to cut 'at least' 40% of its staff in a bid to save costs. | News24_Business
Bron: News24 - 🏆 4. / 80 Lees verder »