What you can do if your home loan interest rate is more than 9%

Posted on: 14 Mar, 05:58 PM

Key Points

Homeowners stuck with elevated home loan interest rates have been hurting..

There were expectations of a repo rate cut by now, but the wait has gotten longer..

It is to the consumers benefit that home loan spreads in 2024 have fallen dramatically from the early 2020 levels when they were 275bps to 360bps over the repo..

With the repo primed for a fall soon, customers can capture a lower spread for the rest of their loan durations, and also receive any upcoming rate cuts faster, by refinancing to a repo-linked loan..

RBI data (September 2023) shows that 79% of floating-rate loans from private banks are now repo-linked..

Full story at mint |

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