It seems as though people are more positive because the affordability levels are back to around the 2007 levels. Banks will grant more in mortgage finance because of the fallen interest rates since December.
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It seems as though people are more positive because the affordability levels are back to around the 2007 levels. Banks will grant more in mortgage finance because of the fallen interest rates since December.
Read the full article at:
The residential property sector has been affected by rising interest rates, but not nearly as much as expected.
The emerging black middle class, together with a strong economy, are some factors that play a role in the ongoing demand for property, even when interest rates are climbing the ladder everyday.
The number of people who cannot afford their monthly bond repayment is increasing in South Africa and causes concern in the industry.
The US home loan market experienced a crisis after 22 lenders in the US sub prime market has been declared bankrupt in the past two months. Household debt had risen sharply in the past few years but fortunately in South Africa; banks are more conservative than those in the US. Banks are not locked into a rate at which the loans become unprofitable.
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