Home loans rates

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Home loans rates
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Home loans rates at lowest in many years take
advantage to buy a house now
  THREE forces have shaped the real estate market
in recent times. Interest rates for home loans
are the lowest in many years. Theres a lot of
unsold inventory and demand is low. This slowing
down of the real estate market therefore presents
an opportunity for interested buyers.
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Unsold inventory Unsold inventory shows that the
gap between the buyers expected price and the
price at which the developer is ready to sell,
has widened. It means there is scope for a
discount in the property price. This is a buyers
market and the end users are the price decider.
On the flipside, an unduly long inventory
overhang may result in poor financial health for
the developer, and therefore you may be at a huge
risk especially while buying an
under-construction property. Low demand buyers
advantage Low property demand brings in a
liquidity crunch for developers and therefore the
project deadlines may not be met on time.
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Impact of the Home loans rates While buying a
home with a 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.
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