Borrowers are going through a very difficult phase due to the soaring interest rates. During the Fiscal year-11 the banks raised their lending rates by 150-200 basis points. During the same time Central Bank raised the rates seven times, it inspired the banks to raise their lending rates too.
This might bring a lot of relief to the borrowers as for this year many experts believes that there are very scanty chances of banks hiking the lending rates during the first half of the new financial year.
Head of financial research team in Macquarie Securities Mr. Suresh Ganapathy said “I don’t think the lending rates will see a hike for the next six months. Post-September possibly, a 50 basis point hike can be expected.”
Due to the regular hike in the interest rates the home loans segment is experiencing a dip, any further hike can retard the growth in the home loan sector to a great extent.
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