THREE forces have shaped the real estate market in recent times. Interest rates for home loans are the lowest in many years. • There’s a lot of unsold inventory and demand is low. • This slowing down of the real estate market therefore presents an opportunity for interested buyers.
Impact of the home loan rate While buying a home with a Online Home Loan, buyers have two options: fixed rate or a floating rate. • Since interest rates are expected to fall further, most people would opt for a floating rate. • Even a small cut in the interest rate could make a huge difference in the total payment outgo in long tenure of, say, 20, 25, or 30 years
Since the interest rate has already fallen to a single digit, home buyers can use this opportunity to make their bookings. • Home loan is a long-term debt, therefore the ups and downs of the interest rate get averaged in the long run. • Therefore, if you are getting a good deal, you should make the most of it. • Source: http://www.financialexpress.com/industry/companies/take-advantage-of-slowdown-in-real-estate-market-to-buy-a-house/387333/
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