Deciding to purchase your first home is a significant milestone, filled with both excitement and complexity, especially when navigating the fluctuating landscape of interest rates and real estate prices.
RBI MPC announcements today: A 0.5% drop in your home loan interest rate can save you Rs 3.83 lakh if the interest rate on your Rs 50-lakh loan for 20 years comes down from 9% to 8.5%. This will give much needed relief to old home loan borrowers who have seen their interest rate rise sharply within the last 3 years.