Source: Hindustan Times ( https:\/\/bit.ly\/3NMa53b )<\/p>\n\n\n\n
The repo rate is the rate of interest at which the Reserve Bank of India (RBI) lends money to commercial banks. The central bank had increased the repo rate six consecutive times since February to control rising inflation, and the rate increased by 250 basis points from 4 per cent in January 2022 to 6.5 per cent, taking home loan interest rates up to 9.5 per cent.<\/p>\n\n\n\n
\u201cIt is a big relief for home buyers like me. My home loan EMIs had increased from \u20b980,000 to \u20b91.02 lakh per month,\u201d said Praveen Bohra, a trader. He said the central bank should consider reducing the repo rate in future, as home buyers were now facing the heat of high interest rates. \u201cWhen I availed of the home loan in 2017, the interest rate was 12 per cent, then it dipped to 6 to 6.5 per cent. Now again it is rising. I am trying to sell my flat, but with the rising interest rates, buyers seem to be delaying their decision to purchase.\u201d<\/p>\n\n\n\n
The real estate industry, which was anticipating a 25 basis point hike on Thursday, cheered the RBI\u2019s decision to keep the repo rate unchanged.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Reserve Bank of India\u2019s decision on Thursday to keep the repo rate of 6.50 per cent unchanged came as a huge relief to the real estate industry as well as home buyers paying back home loans.<\/p>\n","protected":false},"author":1,"featured_media":431,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":""},"categories":[19,20,22],"tags":[],"_links":{"self":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts\/433"}],"collection":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/comments?post=433"}],"version-history":[{"count":1,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts\/433\/revisions"}],"predecessor-version":[{"id":434,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/posts\/433\/revisions\/434"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/media\/431"}],"wp:attachment":[{"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/media?parent=433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/categories?post=433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saldanha.in\/blog\/wp-json\/wp\/v2\/tags?post=433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}