Easing interest rates to help homeowners weather admin costs

JOHANNESBURG - With inflation easing both locally and globally, the Reserve Bank is expected to cut interest rates in the third quarter.

Standard Bank predicts two rate cuts by the end of this year, marking it the first decrease since Covid-19.

While this will lower monthly mortgage payments, rising administrative and home servicing costs such as rates and taxes will continue to strain homeowners.

Standard Bank's Chief Risk Officer, Thabani Ndwandwe, unpacks this.