The South African Reserve Bank has just announced a 25 basis point cut in the repo rate, bringing it down from 10.75% to 10.5%. This is great news for aspiring homeowners, and we’re here to break down what it means for you.
What Does This Mean for Homebuyers?
In short, lower repayments and improved affordability. When the interest rate drops, the cost of borrowing becomes cheaper. That means your monthly bond repayments could decrease, and more buyers may now qualify for home loans they previously couldn’t afford.
Why Now Is a Good Time to Buy
At Your Housing Company, we understand how challenging high interest rates can be for first time buyers. This drop is a step in the right direction and signals renewed support for economic growth and consumer relief.
If you've been on the fence about purchasing a new home, this could be the perfect opportunity to make your move
Speak to Us About What You Qualify For
Not sure how this affects your buying power? Our team can assist you with a free pre qualification and explain exactly how the rate cut benefits your specific situation.
