R842 per month pain for homeowners in South Africa

• R842 per month increase in bond repayments for a R5 million bond
• The Reserve Bank increased the repo rate by 25 basis points to 7.25% and prime lending rate to 10.75%
• National economic growth forecasts have been downgraded from 1.4% to around 1.1% and household budgets are already stretched following the May rate hike