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Home loans cost more as interest rates rocket | Citypress

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Home loans cost more as interest rates rocket | Interest rates may come down sooner rather than later, as the increases are a strategy to curb inflation quickly

The aggressive 75 basis point increase in interest rates last week means that homeowners are paying two percentage points more for their home loans than they were in November.

Since the start of the cycle of increasing interest rates, the prime lending rate has increased from 7% to 9%.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

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