Interest rates have a chokehold on SA households, says economist
The average deposit required for a bond for first-time home buyers, as administered by BetterBond, has jumped from 8.2% in 2019 to 14.7% in 2023
18 January 2024 - 18:02
SA households remain under severe financial pressure with personal credit facilities stretched to the limit, mainly as a result of the most restrictive monetary policy stance in 14 years, according to the Altron Fintech Household Resilience Index (AFHRI).
Published on Thursday, the index shows that while households’ financial position marginally improved to 109.9 in the third quarter of 2023 compared to 109.1 in the second quarter, households are currently worse off than they were in 2019, before the Covid-19 pandemic...
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