The rise in repo rate will push banks to increase the interest rate on different loans including housing loans.
There is no respite for home loan borrowers as the Reserve Bank of India (RBI) in its monetary policy meeting held on August 5, decided to increase the repo rate again by 50 bps to 5.4 percent, the pre-Covid level. This was the third hike in the last two months to tackle the rising inflation.
https://www.freepressjournal.in/mumbai/affordable-segment-of-real-estate-to-face-heat-of-repo-rate-hike
Source: The Free Press Journal
