Comment on interest rate announcement

Comment on interest rate announcement
Adrian Goslett, CEO
RE/MAX of Southern Africa
 
 
RATE REMAINS FIRM AT10%
 
The Reserve Bank’s statement that the prime interest rate will remain at a steady 10% after today’s Monetary Policy Committee meeting is in line with our expectations of no movement in the rate this year.
 
South Africa’s economy is generally in a good, stable condition, as is the property market, which has shown a slow but steady upward trend since late last year. This interest rate stability bodes well for continued growth in property sales volumes and prices for the remainder of the year; however consumers should plan now for the fact that interest rate increases are highly likely to become a reality from early 2011.
 
 
Loading comments
More news articles
news
Guidelines to securing a home loan
29 May 2018
Many young South Africans are working hard to achieve their dream of purchasing their first home. However, the process can be challenging due to the daunting application process, which can take up to 2 years and is often enough to discourage prospective buyers.
read more
news
Things you should consider before upgrading to a new home
23 Apr 2018
The thing about the property ladder is that at some point in our lives we all have reason to want to climb a rung or two higher. Sometimes, it’s because we’ve outgrown our previous dream home, or because we want to be in a better neighbourhood that’s closer to work or to schools. Sometimes it’s because our circumstances have changed, and we’re taking care of elderly parents or relatives. Sometimes, it’s just because we want a property that reflects the financial status our hard work has won.
read more