Great news, the interest rate drops again to 7,25%. This is the 4th drop in the rates for 2020 so far. So if you are planning on buying a property then the current interest rate definitely goes in your favour. If you already own a property you must surely see the relief of around R1,581,41. And, the current interest rate of 7,25%, down from 7,75%. And, 7,75% is the lowest the interest rates have in over 50 years.
Here is what you are saving
On a bond of say R1,000,000 you are saving between R1,747 after 4 rate drops:
- In February the saving on a home loan repayment of around R1,000,000 was R648,06.
- In March the further saving of R627,62 was effected at an interest rate of 7,75%.
- And now with a further 0.5% interest rate reduction you can save a further R305,73.
How can we help you?
Whether you are selling a property or wanting to buy one, we can help. Remember, the current interest rate is an extremely favourable climate for property investments. We will connect you to top estate agents in the Randburg area. Book your free property valuation now. Get calls from top agents in minutes. And, sell fast and for the best price possible.
Connect now with top agents in Randburg
- Call us on (083) 550-1220 if you have any questions at all and need more assistance on how to make the most of this situation.
- Need a free property valuation, or even a digital valuation, click here, leave your details and we will call you right back.
- Need EA Connections to refer you to the top agent in the Randburg area? Click here and leave your details – we will call you right back.