How RBI’s rate hike turns homeownership dream into bigger debt burden
The Reserve Bank of India raised the repo rate from 5.25% to 5.50%, impacting homebuyers significantly. A 25-basis-point increase translates to an additional ₹780 in monthly EMI and nearly ₹1.88 lakh more in interest over 20 years for a ₹50 lakh loan. This hike complicates homeownership for many, delaying their dreams of owning a home.