Saw a discussion saying RBI might keep interest rates unchanged until around 2027.
Now I’m wondering…
If rates don’t fall much from here, does it make sense to lock a home loan now?
Or is it still better to wait and see if rates drop further?
Curious how people here are thinking about it.
If you were planning a home loan right now…
Would you:
- Lock the loan now before rates move up again
- Wait and watch for a few months
- Ignore rates and just buy when ready
Would love to know how you’re thinking about this.
Especially from people who recently took a home loan or are planning to.
Reserve Bank of India to hold interest rates until at least mid-2027: Reuters poll | Reuters
If the deal makes sense today, floating seems safer as it will benefit from future rate cuts, and fixed can always be refinanced later. Am I thinking right?
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The rate you get matters, but the price you buy at matters more. We were at 6.5% repo just 14 months ago. Even if rates don’t drop further from here, you’re still locking in at a much better point than most people who bought in 2023-24.
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In my view, if you’ve already found the right property and your finances are sorted, locking the loan now makes sense. Waiting just for slightly lower rates may not make a big difference in the long run.
I feel if you’re financially ready and the property makes sense, it’s better to go ahead and lock the loan. Waiting only for slightly lower rates may not change things much.
Economists also expect the RBI to keep interest rates around current levels for some time, so big drops may not happen soon.
I felt that if the property and finances are already in place, it makes sense to just lock the loan. Interest rates keep moving anyway, so waiting for the perfect rate may not really help much.
I also feel trying to perfectly time the rate cycle rarely works. If the numbers make sense today and the EMI is manageable, going ahead with the loan may be better than waiting for uncertain rate cuts.