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Housing loans lending rates to soar shortly

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As revealed by a source @ the www.propertykhazana.com housing loans lending rates is likely to soar very shortly and as an indication IDBI Bank has withdrawn the 0.5% cut in rates of housing loans and other liabilities announced earlier.
Almost all the banks have decided to follow the footsteps of IDBI price increases is at a 12-month high of 6.7% where the banks are unable to raise the funds. Obviously, the banks have decided to push the load on the borrowers.
HDFC, SBI, Canara Bank, Bank of Baroda, Bank of India, Allahabad Bank and Union Bank of India had cut loan rates earlier. Speaking on the same at the www.propertykhazana.com an industry expert said that banks are clear on hiking the rate of intrest on housing loans but not all of a sudden and are studying the market conditions for the inflation to come down. IDBI’s chief financial officer R.K. Bansal said that the concerned authorities are engaged in examining the market and will think again on the revise.
Speaking at the www.propertykhazana.com M.S. Sundara Rajan, Indian Bank head said that it is too early to react on the revise and he also said that depending upon the market trends the Indian Bank will come to a conclusion.
Source: NBTVLIVE

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