NHB Mumbai: Demand for Home Loan slows
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National Housing Bank (NHB) chairman and managing director RV Verma reported saying that the Housing loans seems to be slightly discomforting as buyers feel there is no way of getting properties at the affordable prices. The central bank recently has increased short-term rates and this hike has been recorded within a span of 18 months. The high inflation with an increase of 9.78% during the time of August was the most of all discomforting situation for the property investors.
Home loan buyers are hit by high interest rates since April. The home loan has seen a growth from 16-17% compared to previous fiscal. However the booming property price is affecting the demand of rate hike by the Reserve Bank of India. National Housing Bank which is the Housing finance watchdog has demanded for home loans to slow down due to high property prices.
Source: The Economic Times
Tags:
Central bank, Higher interest rates, Home loan buyers, Housing loans, Mumbai, National Housing Bank
