Mortgage Refinance Rates 2024 South Africa. In july 2022, the prime interest rate was raised to 9%, which is an increase of 0.75% from the previous 8.25%. There are a number of reasons for refinancing property in south africa.

Interest rates are expected to rise gradually to 2024, so prospective bondholders should look at what they can afford beyond the current interest rates, said. As of february 2024, the interest rate is 11.75%.