The report by NoBroker, an online platform that helps people find rental houses, says that while companies raised their headcount in the last two years, construction of housing projects has been delayed due to various reasons, which has contributed to the rise in rents.
Assess your EMI affordability before applying for a home loan, make a higher downpayment, and improve your credit score.
A modification in interest rates for Bajaj Housing Finance's products has been announced. For salaried and professional applicants, the company's house loan interest rates currently begin as low as 7.20 percent * p.a., making them one of the most competitive on the market right now.
Home-loan borrowers are bracing for higher interest rates as inflationary pressure prompts the Reserve Bank of India to tighten monetary policy. On June 9, HDFC increased its retail prime lending rate by 50 basis points. It was the fourth time in a month that HDFC hiked its home loan rate
Kotak Mahindra Bank and ICICI Bank have also hiked their interest rates recently.
Home loan lenders allow borrowers to prepay their entire outstanding balance or part of it. On making prepayments, borrowers can either opt for EMI reduction or tenure reduction.
Here are the Key Money and Operational Changes that will Come into Effect from June 01, 2022:
The perpetual debate is rekindled in the wake of better regulations and low-interest rates, but it should be a financially driven decision rather than an emotional one.
For borrowers with CIBIL score of 700 and above, the rate hike has been limited to only 20 bps, LIC Housing Finance said in a statement, adding that the revised rates are applicable from Friday.
Despite the probability of continued rate hikes in the coming months, home loan rates are expected to be cheaper compared to pre-Covid levels and could be attractive for borrowers
The interest rate hike will also impact equity markets, which thrive on liquidity. How the US Fed treats its own interest rates will further determine which direction the equity markets will go
Borrowers would feel the implication of the repo rate hike across all categories of loans, both secured and unsecured. Depositors will earn higher interest rates as rates will start going up
HDFC’s floating-rate home loans for customers with a credit score of over 750 will carry an interest rate of 6.75 percent, up from 6.70 percent earlier
The main difference is that home loan insurance covers property, while a term policy covers a person’s life
The bank will also give a 100 percent waiver on processing fees during this period.
Multiple bankers and analysts Moneycontrol spoke to on April 20 said that loan pricing could go up by at least 25-50 basis points from current levels over the next two quarters as lenders have started hiking their marginal cost of fund-based lending rates (MCLR) over the past few days
Part prepayment of home loan and voluntarily increasing your EMI, among other things, can help offset the increase in interest burden that borrowers are likely to witness from June, Bankbazaar.com CEO Adhil Shetty tells Preeti Kulkarni
Housing finance companies face a choice: become a niche player or merge with a bank. As things stand, the home-loan market is firmly in the grip of banks.
AU Small Finance Bank has a comfortable capital position with capital adequacy ratio of 19.5 percent.
Not making financial mistakes is as important as doing the right thing. And paying home loan EMIs at a time when your salary has not yet grown sizeably is one such costly mistake.