The South African Reserve Bank’s decision to keep the repo rate unchanged at 7%, despite inflation rising to 5% in June, brings some welcome stability for homeowners and prospective buyers.

Shaun Rademeyer, CEO of MultiNET Home Loans, says consumers are already feeling the pressure of higher fuel, transport and household costs, and another interest-rate increase would have placed even more strain on monthly budgets. While a rate hold does not immediately make homes more affordable, it does give buyers and homeowners a little more certainty. This could encourage some people who have been waiting on the sidelines to start looking at property again, while giving existing homeowners some breathing room.

Rademeyer believes the decision should also support the home-loan industry by helping to rebuild buyer confidence and keep activity in the property market moving. “Banks are still competing for good-quality home-loan business, so buyers should make sure they compare offers and structure their applications properly,” he says. Inflation remains a concern, but for now, the decision gives homeowners, buyers, and the broader property industry a valuable period of stability.

MultiNET Home Loans assists buyers by submitting their applications to multiple banks, comparing the available offers and helping them secure the most suitable home-loan solution at no cost to the applicant.

For expert advice and tailored home loan solutions, contact MultiNET Home Loans today. Let us turn your property aspirations into reality.

0861 54 54 44 | WA 061 537 8778
www.multinet.co.za | info@multinet.co.za