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RBI lowers CRR, home loan rates may fall
| October 7, 2008 |  (Be the first to rate this story!) Loading ... |
The Reserve Bank of India’s move to slash the cash reserve ratio has released Rs 20,000 crore into the market. This may lead to a fall in home loan interest rates. HDFC chairperson, Deepak Parekh, believes the fall in oil prices, moderated inflation and rising liquidity will cap interest rates. “Oil prices are coming down, inflation has moderated. Liquidity was an issue and this move by RBI will infuse liquidity. I am hoping that interest rates have peaked,” says Parekh.
Some analysts say the there could be further good news for borrowers. “I suspect that there could be further cuts in rates before, during or after the credit policy,” say stock analyst Harsh Roongta. Banks aren’t willing to commit themselves on a cut, but say funding will get easier with more money to lend. One needs to watch out for RBI’s credit policy on October 24.
News Published Under: Home Loans |
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