The prime interest rate has increased from 11% to 15.5% in past two years (June 2006 to June 2008). The monthly installment for a R500,000 bond taken in June 2006 would have increased from R5,161 to R6,724 over the same period an increase of 30%. (SARB)
This week's theme: Debt
Resources
Fact-a-Day
June 26, 2008
