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Monday, March 22, 2010

Rate change?

Analysts predict that there will be no rate change announced by Reserve Bank Governor Gill Marcus this week.

A stronger Rand and a slowly recovering economy may actually be factors against any kind of rate change with focus going elsewhere than the "quick fix" of changing the rate.

Many feel that no change will be "good news" and allow the market to slowly continue on its gradual improvement.

Some point to the property market when pointing to the positive change happening in the economy. There has been a positive shift in the average pricing of homes (an increase of Approx 11%) which is good news for those looking to sell. However many potential buyers are still struggling to get finance with more than 50 percent of home loan applications being declined during February despite many banks supposedly "relaxing" their lending criteria.

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