Making the news today: Sotherby's International predicts a massive 40% drop in property prices this year. And the Alliance Group says the mortgage crunch could see thousands lose their homes...
Home Loan and Property Tips With interest rates up and affordability dropping it may seem like the wrong time to begin climbing the property ladder. But, with a bit of know-how and resolve you’ll find that it’s not as difficult as you might think. Rising Inflation and interest rates have forced many potential buyers and [...]
Estate Agencies across South Africa are reporting a significant rise in forced home sales. The current season of high interest rates has clearly placed many mortgage holders under pressure. Banks are also reporting an increase in defaults on mortgage payments, but don’t expect your bank manager to be knocking down your down with a foreclosure [...]
FNB Home Loans | Property News www.fnb.co.za Lower Priced Properties sell faster and closer to their asking prices FNB Home loans released their Residential Property Confidence Indicator for the 4th quarter of 2007. In his report, Jan Kleynhans, chief executive officer at FNB Home Loans, further illustrated the current slowdown in market activity. Rising interest [...]
Property News: Despite the negative effects of High Interest Rates on housing affordability, property prices in South Africa continue to increase. Although, the rate at which your property value is growing has slowed considerably. Standard Bank reports that property price growth has dropped to about 6.5% year-on-year, and according the ABSA HOUSE PRICE INDEX growth [...]
Sales figures from Estate Agents and the major banks reflect a slow down in the current SA Property Market. Seven consecutive rate hikes and the NCA are the main reasons property price growth has slowed down in most – but not all areas. The key is to focus on how you can take advantage of [...]
Property and Mortgage News: Interest Rates On Thursday, August 16 the South African Reserve Bank announced another hike in interest rates, taking the prime lending rate from 13.0% to 13.5% This means, someone with a home loan of R500 000 taken out in June 2006 at the prime-lending rate of 10.5% now pays R1 045 [...]
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