A recent FNB survey showed that 17% of home sales in the first quarter were a result of financial pressure, and though this was in line with the historical average, the percentage rose to 22% for the “affordable home” category.
The Reserve Bank is expected to lift the repo rate 25bp, raising the likelihood of forced home sales by stressed mortgage clientsHomeowners face more pressure this week as the South African Reserve Bank’s monetary policy committee is expected to hike rates for the ninth time
since November 2021, raising the likelihood of more forced property sales to avoid loan defaults. ..You’ve always trusted us to help you navigate the world. Support the Sunday Times by becoming a premium member for only R80 and keep the conversation going. You can cancel anytime.
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