Reserve Bank governor Tito Mboweni has mooted the possibility of introducing a second fixed interest rate for home buyers as property ownership levels in South Africa are low and the volatility in interest rates makes it difficult for people to buy a first home. T-Sec economist says, It is a good idea if implemented with proper systems." But he warned that consumers might be tempted to abuse cheaper finance to fund other items, such as new cars and restaurant meals.
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"Again with all due respect, the resolution is patently wrong"
Conference Resolutions - II
Mboweni moots fixed mortgage rate and Banks ask for clarity on mooted fixed-rate loans