ABSA bonds offers new fixed rate option

ABSA customers are now able to fix their Monthly Home Loan Repayment for up to 10 years.

The impact of rising interest rates is starting to have a marked effect on disposable income and confidence levels amongst home buyers this feature goes a long way in addressing this issues. Customers now have the ability to plan ahead for the next ten years.

Interest rates rise to 15%

Tito Mboweni announced an interest rate hike of 0.5%. With the previous interest rate already on 14,5% we are now standing at 15%.

This increase will certainly place a lot of pressure under most of the South African, middle class home owners. A lot of the South African home owners are already struggling to make their bond repayments. Now, with the interest rates this high one can only wonder if some of them are still going to be able to keep their home.