RBI MPC Annoucement : The rise in economic activities will likely keep rates elevated for longer than expected Says Mr. Amarendra Sahu, NestAway Technologies
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Perspective on RBI MPC Annoucement By Mr. Amarendra Sahu, Founder and CEO, NestAway Technologies
"As expected the RBI has hiked key rates by 50 bps in an effort to control inflation and provide support to the currency. With this hike, the rates have gone up by 190 bps cumulatively this calendar year alone. The hike in rates will push up the rates for homebuyers, further affecting housing affordability.
The trend of the workforce returning back to the workplace and the rise in economic activities will likely keep rates elevated for longer than expected. The home mortgage rates are now back to pre-COVID levels or even higher. This is likely to increase traction in the rental segment. A higher home acquisition cost and interest rates will make renting far more affordable. Also, homebuyers will likely wait for the current cycle to get over."
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