In May 2022, the South African repo rate increased to 4.75%, the highest increase in over 6 years. These increases have pushed the prime lending rate to 8.25%, increasing the repayment burden on homeowners – especially those who bought at the edge of their capabilities in 2020, when the repo rate hit a 50-year low. Worryingly, the South African Reserve Bank has hinted that there are more hikes coming, which could increase home loan repayments by thousands of rands if interest rates reach pre-pandemic levels of about 10%.

Source: one, two, three