ITS MY HOUSE: Managing your home loan as interest rates spike
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GUEST – Corne Welman, Franchise Principal and Certified Financial Planner at Consult by Momentum Points:
Be aware of an upward move in the interest rate, having an impact on your cash-flow if the interest rate rises as little as 1%, it increases your home loan rate (the interest rate paid on your home loan), which increases your monthly home loan repayments and this could put financial pressure on you. before you buy, you need to take into account that the interest rate could rise significantly over time.
Be aware of an upward move in the interest rate, having an impact on your cash-flow if the interest rate rises as little as 1%, it increases your home loan rate (the interest rate paid on your home loan), which increases your monthly home loan repayments and this could put financial pressure on you. before you buy, you need to take into account that the interest rate could rise significantly over time.
