Higher home loan interest rates will soon become a fact of life from the coming month, thanks to the announcement of the Reserve Bank of India (RBI) for increased repo rate and Cash Reserve Ratio (CRR)
While expectations of a rise for home loans between 0.5% and 1% in the interest are predicted by home loan lenders, some have even indicated a jump of 2%.
This will add to the monthly investments’ increase for an average home seeker who already feels burdened with overall costs of buying a house.
With the cost of living already going up by rising inflation standards, don’t we need an innovative thinking for housing loan solutions offered by government authorities or the developers that may save us from the both financial as well as psychological pressures?
