Last week, almost all the biggies, including ICICI and HDFC, announced that the home loan rates will be hiked after Diwali. (SBI increased the rate in September itself.) Says Prashant Joshi, head of retail, IDBI Bank: "It's only a matter of time before rates rise." It was RBI's mid-term credit policy this October that gave a concrete signal that a hike was imminent. One can say that RBI's move was driven by macro factors such as high domestic inflation and the ever-rising US interest rates.
But what has gone unnoticed is that the...

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