Bank interest rate hikes could affect housing demand: Realtors

19 May 2022 CW Team

Soon after the Reserve Bank of India (RBI) increased the repo rate by 40 basis points, the banking sector followed suit by raising interest rates on loans and deposits.

Several banks, from major to small, have jumped on the bandwagon of increasing lending and deposit rates.

Following a 0.40 percent hike in the repo rate 鈥� the rate at which the RBI lends short-term money to banks 鈥� a number of banks boosted their external benchmark-based lending rates.

This decision by the banks is projected to have an influence on the real estate industry's growth and may have a negative impact on housing demand.

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