{"id":2195,"date":"2024-10-10T09:05:06","date_gmt":"2024-10-10T09:05:06","guid":{"rendered":"https:\/\/www.luxuryresidences.in\/blog\/?p=2195"},"modified":"2025-08-23T10:02:40","modified_gmt":"2025-08-23T10:02:40","slug":"rbi-monetary-policy-home-loan-emi-unchanged-as-repo-rate-remains-same-for-10-consecutive-time","status":"publish","type":"post","link":"https:\/\/www.luxuryresidences.in\/blog\/rbi-monetary-policy-home-loan-emi-unchanged-as-repo-rate-remains-same-for-10-consecutive-time","title":{"rendered":"RBI Monetary Policy- Home Loan EMI Unchanged as Repo Rate Remains Same for 10 Consecutive Time"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2195\" class=\"elementor elementor-2195\" data-elementor-settings=\"{&quot;ha_cmc_init_switcher&quot;:&quot;no&quot;}\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7303f01a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7303f01a\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-13ad4a60\" data-id=\"13ad4a60\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-442651e elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"442651e\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;exclude_headings_by_selector&quot;:[],&quot;headings_by_tags&quot;:[&quot;h2&quot;,&quot;h3&quot;,&quot;h4&quot;,&quot;h5&quot;,&quot;h6&quot;],&quot;marker_view&quot;:&quot;numbers&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t<h2 class=\"elementor-toc__header-title\">\n\t\t\t\tTable of Contents\t\t\t<\/h2>\n\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\"><svg class=\"e-font-icon-svg e-fas-chevron-down\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\"><svg class=\"e-font-icon-svg e-fas-chevron-up\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M240.971 130.524l194.343 194.343c9.373 9.373 9.373 24.569 0 33.941l-22.667 22.667c-9.357 9.357-24.522 9.375-33.901.04L224 227.495 69.255 381.516c-9.379 9.335-24.544 9.317-33.901-.04l-22.667-22.667c-9.373-9.373-9.373-24.569 0-33.941L207.03 130.525c9.372-9.373 24.568-9.373 33.941-.001z\"><\/path><\/svg><\/div>\n\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<svg class=\"elementor-toc__spinner eicon-animation-spin e-font-icon-svg e-eicon-loading\" aria-hidden=\"true\" viewBox=\"0 0 1000 1000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M500 975V858C696 858 858 696 858 500S696 142 500 142 142 304 142 500H25C25 237 238 25 500 25S975 237 975 500 763 975 500 975Z\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1493a5a1 elementor-widget elementor-widget-text-editor\" data-id=\"1493a5a1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">For the 10th consecutive time, the Reserve Bank of India (RBI) has maintained the same repo rate of 6.5 per cent in its bi-monthly Monetary Policy Committee (MPC) review. This means the home loan interest rates and EMI would remain the same. It will help in bringing stability to their financial planning.<\/span><\/p><p><span style=\"font-weight: 400;\">When international central banks began hiking interest rates to rein in excessive inflation two years ago, the RBI raised the repo rate several times. But now, the market condition is quite different, with interest rates declining globally. It is improbable that this will have no impact on India. For investors in fixed deposits, this may be their last chance to lock in their funds at the current high rates and take advantage of the current circumstances.<\/span><\/p><p><span style=\"font-weight: 400;\">However, market experts believe that a repo rate cut would bring positive opportunities to the real estate market with reduced interest rates ahead of the festive season. Anuj Puri, Chairman &#8211; ANAROCK Group said, \u201cThe unchanged home loan rates are much-needed demand support in the ongoing festive quarter. Unchanged interest rates will play an important role in achieving and maintaining the sales momentum.&#8221;<\/span><\/p><p><span style=\"font-weight: 400;\">\u201cWith the fundamentals of the Indian economy remaining strong despite global headwinds, geopolitical tensions and inflation well within control, the RBI has once again decided to keep the repo rates unchanged at 6.5% &#8211; thus helping the housing market to maintain momentum during the festive season. While a repo rate cut would have been preferable, it is clear that the RBI is on a tightrope walk and must keep various macro-economic factors in mind,&#8221; he further stated.<\/span><\/p><h2>Impact of No Repo Cut in Home Loan EMIs<\/h2><p><span style=\"font-weight: 400;\">For homebuyers, the no repo cut can be a relief because house loan interest rates are anticipated to be stable for the foreseeable future. Home loan customers won&#8217;t notice an instant shift in their EMIs, especially during a busy period like the holidays when demand for homes usually spikes.<\/span><\/p><p><span style=\"font-weight: 400;\">Manju Yagnik, Vice Chairperson of Nahar Group and Senior Vice President of NAREDCO Maharashtra said,&#8221;By keeping borrowing costs steady, EMIs remain manageable, encouraging potential homebuyers to invest in property, especially in the affordable housing segment.&#8221;<\/span><\/p><h2>A Longer Wait for Borrowers<\/h2><p><span style=\"font-weight: 400;\">Even with constant interest rates, buyers&#8217; decisions are heavily influenced by other variables, such as real estate values. According to recent ANAROCK research, average home prices in India&#8217;s top seven cities increased by 23% in Q3 2024 compared to the same time in 2023.<\/span><\/p><p><span style=\"font-weight: 400;\">In September, the US Federal Reserve lowered interest rates by 50 basis points, initiating a reversal of the interest rate cycle. Numerous international central banks followed the system by reducing interest rates, which has encouraged many to anticipate an RBI rate decrease as well.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Nevertheless, when other central banks raised rates by larger margins, the RBI raised rates later and by a smaller amount. If other central banks lower their interest rates, the Indian central bank is probably going to follow suit.<\/span><\/p><p><span style=\"font-weight: 400;\">Adhil Shetty, CEO of Bankbazaar.com cautions that, &#8220;Loan holders may need to wait longer for rate cuts, possibly until December. If inflation stays under control, a rate cut could come. Until then, EMIs will remain at current levels.&#8221;<\/span><\/p><h2>Housing Market Outlook in Q3 2024<\/h2><p><span style=\"font-weight: 400;\">The real estate market in Q3 2024 didn&#8217;t show a positive sign.<\/span><\/p><ol><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There is a decline in housing sales by 11% in Q3 2024 compared to Q3 2023.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New housing project launches fell by 19% during this period.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Average prices in top metro cities increased to approximately Rs 8,390 per sq. ft. from Rs 6,800 per sq. ft. last year.<\/span><\/li><\/ol><p><span style=\"font-weight: 400;\">Vikas Wadhawan, CFO of REA India and Business Head of PropTiger.com, said in a recent report, &#8220;over the last few quarters, prices have increased by 3% to as much as 50% in some prime localities of key markets, affecting immediate buying decisions. However, we expect buyers to gradually adjust to the new price realities.&#8221;<\/span><\/p><h2>Global Decision Impacting RBI&#8217;s Repo Rate<\/h2><p><span style=\"font-weight: 400;\">Given the geopolitical unrest and uncertainty in the international economy, central banks throughout the world have been cautious, which has led to the RBI&#8217;s decision to maintain the repo rate unchanged. The US Federal Reserve recently lowered interest rates, but the RBI seems to be waiting it out to prevent further instability in the home economy.<\/span><\/p><p><span style=\"font-weight: 400;\">The Reserve Bank of India (RBI) has adopted a neutral position, indicating that it is prepared to adjust interest rates in response to changing economic circumstances. As for now, home loan holders should wait for possible relief and fixed deposit holders should lock in the present rates, while savers should brace themselves for the likelihood of adjustments in the upcoming months.<\/span><\/p><hr \/><p><span style=\"font-weight: 400;\">Stay updated with the latest <\/span><a href=\"https:\/\/www.luxuryresidences.in\/sitemap\"><b>Developments in Real Estate<\/b><\/a><span style=\"font-weight: 400;\"> across top cities &#8211;\u00a0 <\/span><a href=\"https:\/\/www.luxuryresidences.in\/site-map\/mumbai\"><b>Mumbai<\/b><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.luxuryresidences.in\/site-map\/gurgaon\"><b>Gurgaon<\/b><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.luxuryresidences.in\/site-map\/pune\"><b>Pune<\/b><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.luxuryresidences.in\/site-map\/bangalore\"><b>Bangalore<\/b><\/a><span style=\"font-weight: 400;\">, <\/span><b>Thane<\/b><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.luxuryresidences.in\/hyderabad-projects\"><b>Hyderabad<\/b><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.luxuryresidences.in\/site-map\/delhi\"><b>Delhi<\/b><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.luxuryresidences.in\/site-map\/himachal-pradesh\"><b>Himachal Pradesh<\/b><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.luxuryresidences.in\/site-map\/goa\"><b>Goa<\/b><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.luxuryresidences.in\/site-map\/noida\"><b>Noida<\/b><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.luxuryresidences.in\/site-map\/panchkula\"><b>Panchkula<\/b><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"https:\/\/www.luxuryresidences.in\/dubai-projects\"><b>Dubai<\/b><\/a><span style=\"font-weight: 400;\"> to make informed investment or home-buying decisions.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Table of Contents For the 10th consecutive time, the Reserve Bank of India (RBI) has maintained the same repo rate of 6.5 per cent in its bi-monthly M&#8230;<\/p>\n","protected":false},"author":4,"featured_media":2198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-2195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.luxuryresidences.in\/blog\/wp-json\/wp\/v2\/posts\/2195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.luxuryresidences.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.luxuryresidences.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.luxuryresidences.in\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.luxuryresidences.in\/blog\/wp-json\/wp\/v2\/comments?post=2195"}],"version-history":[{"count":15,"href":"https:\/\/www.luxuryresidences.in\/blog\/wp-json\/wp\/v2\/posts\/2195\/revisions"}],"predecessor-version":[{"id":4255,"href":"https:\/\/www.luxuryresidences.in\/blog\/wp-json\/wp\/v2\/posts\/2195\/revisions\/4255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.luxuryresidences.in\/blog\/wp-json\/wp\/v2\/media\/2198"}],"wp:attachment":[{"href":"https:\/\/www.luxuryresidences.in\/blog\/wp-json\/wp\/v2\/media?parent=2195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.luxuryresidences.in\/blog\/wp-json\/wp\/v2\/categories?post=2195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.luxuryresidences.in\/blog\/wp-json\/wp\/v2\/tags?post=2195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}