Real Estate Investor Magazine February 2025 February 2025 | Page 123
The Reserve Bank ’ s 25bps interest rate cut , reducing the repo rate to 7.50 % and the prime rate to 11 %, is positive news . As a result of the 25bps rate cut , mortgage repayments will reduce by :
R750 000 bond – from R7 869 to R7,741 ( thus saving R128 )
R900 000 bond – from R9 443 to R9,290 ( thus saving R153 )
R1 000 000 bond – from R10 493 to R10,322 ( thus saving R171 )
R1 500 000 bond – from R15 739 to R15,483 ( thus saving R256 )
R2 000 000 bond – from R20 985 to R20,644 ( thus saving R341 )
R2 500 000 bond – from R26 231 to R25,805 ( thus saving R426 )
R3 000 000 bond – from R31,478 to R30,966 ( thus saving R512 )
R5 000 000 bond – from R52,463 to R51,609 ( thus saving R854 )
( Based on a 20-year repayment period at the prime rate ) As usual the property industry weighed in with their views
The Reserve Bank ’ s 25bps interest rate cut , reducing the repo rate to 7.50 % and the prime rate to 11 %, is positive news . As a result of the 25bps rate cut , mortgage repayments will reduce by :
R750 000 bond – from R7 869 to R7,741 ( thus saving R128 )
R900 000 bond – from R9 443 to R9,290 ( thus saving R153 )
R1 000 000 bond – from R10 493 to R10,322 ( thus saving R171 )
R1 500 000 bond – from R15 739 to R15,483 ( thus saving R256 )
R2 000 000 bond – from R20 985 to R20,644 ( thus saving R341 )
R2 500 000 bond – from R26 231 to R25,805 ( thus saving R426 )
R3 000 000 bond – from R31,478 to R30,966 ( thus saving R512 )
R5 000 000 bond – from R52,463 to R51,609 ( thus saving R854 )
( Based on a 20-year repayment period at the prime rate ) As usual the property industry weighed in with their views