New homebuyers must add on extra costs, says FNB
Bank expects the weak house price trajectory to continue for a little while longer
05 March 2024 - 05:00
FNB, one of SA’s four largest banks, has called on consumers to better understand the real cost of home ownership, which includes bond repayments and the highest borrowing costs in more than a decade, before making the long-term financial commitment.
The SA Reserve Bank, which meets later this month, has kept interest rates steady at 8.25% since May 2023 after a cumulative increase of 475 basis points over the 10 prior meetings. Interest rates were at 3.5% in September 2021...
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