![Falling behind on your bond?](https://cdn.magzter.com/1605701739/1720825028/articles/cvemLW7n31720834647223/FALLING-BEHIND-ON-YOUR-BOND.jpg)
The significant decline in the number of people who can keep their mortgage accounts up to date clearly illustrates the level of financial distress consumers are currently experiencing.
Historically around 92% of all mortgage accounts were up to date, but it has been dropping quite dramatically in recent times. The latest available figure shows it is down to 88% in the last quarter of last year. That means home loan accounts with arrears have increased by about 50% recently, and it happened in the relatively short time span of 18 months to December 2023.
Globally, inflation has been quite stubborn, and interest rates remain high as a result. In South Africa the repurchase rate (repo rate) of the South African Reserve Bank reached its highest level in 15 years. This means the prime rate, used to price home loans and other consumer debt like car loans and credit cards, is elevated.
High inflation, and the high interest rate response, has been caused by a confluence of factors including the hangover from previous quantitative easing, supply-chain bottlenecks during the Covid pandemic, the Russia-Ukraine war and the recent conflict in the Middle East.
Despite earlier predictions that the high interest rate cycle could turn around in May this year, it is now expected to turn around only next year due to high inflation proving stickier than anticipated.
Denne historien er fra July 13, 2024-utgaven av The Citizen.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 13, 2024-utgaven av The Citizen.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
![Boks chase NZ double](https://reseuro.magzter.com/100x125/articles/23703/1824141/V35EKbrmQ1725672773789/BOKS-CHASE-NZ-DOUBLE.jpg)
Boks chase NZ double
South Africa will be attempting to wrestle back the Freedom Cup for the first time since 2009.
!['Pecco' aims to pick himself up again](https://reseuro.magzter.com/100x125/articles/23703/1824141/pjx-icjyJ1725672723901/PECCO-AIMS-TO-PICK-HIMSELF-UP-AGAIN.jpg)
'Pecco' aims to pick himself up again
Francesco Bagnaia (right) has put his horror crash in Aragon behind him as the MotoGP champion attempts to reclaim top spot from Jorge Martin at this weekend's San Marino and Rimini Riviera Grand Prix.
![Kruger boosts SA medal count](https://reseuro.magzter.com/100x125/articles/23703/1824141/20c0Qei_F1725672677742/KRUGER-BOOSTS-SA-MEDAL-COUNT.jpg)
Kruger boosts SA medal count
Junior athlete Simone Kruger gave the national team's medal count a boost by claiming gold in the women's F38 discus throw at the Paralympic Games in Paris last night.
![Pegula scripts a dream story](https://reseuro.magzter.com/100x125/articles/23703/1824141/_YHE9YxGF1725672599727/PEGULA-SCRIPTS-A-DREAM-STORY.jpg)
Pegula scripts a dream story
Jessica Pegula scripted an astonishing comeback \"just in the nick of time\" to defeat Karolina Muchova on Thursday at the US Open and reach her first Grand Slam final, where she will take on big-hitting Aryna Sabalenka for the title.
![Hunt is very aggravated with PSL's dilly-dallying](https://reseuro.magzter.com/100x125/articles/23703/1824141/Veiogz1nH1725672536870/HUNT-IS-VERY-AGGRAVATED-WITH-PSLS-DILLYDALLYING.jpg)
Hunt is very aggravated with PSL's dilly-dallying
SuperSport United head coach Gavin Hunt (below) has weighed in on the unconventional start to the new Premier Soccer League (PSL) season.
![US soccer icon hanging up her boots](https://reseuro.magzter.com/100x125/articles/23703/1824141/pzk-01VOT1725672493096/US-SOCCER-ICON-HANGING-UP-HER-BOOTS.jpg)
US soccer icon hanging up her boots
Los Angeles-US soccer icon Alex Morgan (right), who inspired the Americans to two Women's World Cup football crowns, announced Thursday that she will retire after a final club match tomorrow.
![Irish seek huge upset](https://reseuro.magzter.com/100x125/articles/23703/1824141/Fhpff3uJI1725672426967/IRISH-SEEK-HUGE-UPSET.jpg)
Irish seek huge upset
New Ireland boss Heimir Hallgrimsson is hoping to engineer another huge upset against England today-eight years after his Iceland team shocked the Three Lions at Euro 2016.
![Is retiring early an option?](https://reseuro.magzter.com/100x125/articles/23703/1824141/AOVr1GBx31725672303704/IS-RETIRING-EARLY-AN-OPTION.jpg)
Is retiring early an option?
Early retirement can come with several serious risks.
![Banking on women](https://reseuro.magzter.com/100x125/articles/23703/1824141/zad3WKNJz1725672213442/BANKING-ON-WOMEN.jpg)
Banking on women
Having an account does not equate to financial autonomy.
![Failing matric is not the end of life](https://reseuro.magzter.com/100x125/articles/23703/1824141/DVA0QwfTh1725672123826/FAILING-MATRIC-IS-NOT-THE-END-OF-LIFE.jpg)
Failing matric is not the end of life
In a month's time or so, the matric class of 2024 will sit for their final examinations.