New buyers considering affordability concerns are advised to explore fixed interest rate bonds over variable rates, given the uncertainties surrounding inflation and economic growth. The article highlights the benefits of fixed rates, emphasizing the predictability they offer for budgeting.
'New buyers concerned about affordability when applying for a bond may consider a fixed interest rate rather than a variable rate given the concerns about inflation and muted economic growth.'There is a lot of help on offer and information that can help you make an informed decision.
He quoted South African Reserve Bank Governor Lesetja Kganyago saying, “In the near term, inflation appears well contained. However, the medium-term outlook is more uncertain than usual, with material risks from the external environment. Domestic factors such as administered prices are also problematic.” “It bears noting that the housing market has shown strong signs of a recovery in recent months.
Unlike a variable interest rate, a fixed interest rate remains unchanged regardless of the Reserve Bank’s changes to the prime lending rate. “Although the full amount will be paid within the 30-day period, the interest which is calculated daily will be reduced.”4.Pay extra into your bond while you can
Real Estate FIXED INTEREST RATES VARIABLE INTEREST RATES ECONOMIC GROWTH INFLATION BOND APPLICATIONS
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