Tuesday, April 07, 2009

What to do with the interest rate cuts??? INVEST!!

Good news! The Reserve Bank has again cut interest rates by a further 1%!!! This equates to a considerable saving on your monthly mortgage bond repayment.

Just this 1% drop will save a home owner with a bond of R1 million a total of R600,000.00 in interest over 20 years, and a drop of 3% in the interest rate will make a difference of more than 1 million rand in interest repaid!

Accordingly, investing in property is getting more and more attractive and we say, bring on the interest rate cuts!!!

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