This week’s decision by the Reserve Bank to keep interest rates unchanged brings a welcome measure of stability for both existing homeowners and prospective buyers, with the repo rate holding at 6,75% and the prime lending rate at 10,25%.
While some market participants had hoped for a further cut, SARB’s cautious approach was widely anticipated in the light of the newly adopted 3% inflation target and recent discussions around the scrapping of the prime rate, says Berry Everitt, CEO of the Chas Everitt International property group.
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