Blog
May 20

Biggest interest rate hike since 2016

As previously predicted by market experts, the repo rate was increased by 50 basis points and is currently standing on 4.75% which brings the prime rate up to 8.25%.

This is the biggest increase since 2016 and will probably not be the last one we’ll see this year.

For more details regarding this increase, we’ve included a link to the Fin24 article posted on 19 May 2022.

 

 

About The Author

Thea van Schalkwyk is an independent home loan originator and leads the team at BondExcel Cape. She has been part of the property market in South Africa for more than 30 years. In addition to her 9 years as an estate agent, she has gained 21 years experience as a home loan specialist, both as an originator and as a home loans consultant at Nedbank.