If you don’t have a background in finance, concepts like the repo rate and prime lending rate might seem a little mysterious at first. Most of us know that they have something to do with how much interest you pay on a loan in South
The Monetary Policy Committee met for the last time in 2017 and, as expected, left the repo rate at 6.75% (prime at 10.25%).
Not even a slowing inflation rate of 4.8% was enough to convince the bank to a 25 basis point cut, citing uncertainty in
Homeowners in Gauteng’s three main housing markets are losing value in their homes. For Q2 2017, the City of Tshwane’s estimated average house price growth rate was 4.48% year-on-year, with Gauteng Consumer Price Index (CPI) Inflation at 5.2% year-on-year for the same quarter of 2017.
Yesterday’s Monetary Policy Committee meeting saw the repo rate hiked by 25 basis points, pushing it up from 6% to 6.25%. This means the base home loan rate is now 9.75% (from 9.5%).
The residential market is split in its opinion on the rate hike, with