Reports are coming in that the Reserve Bank of India may hike interest rates keeping in view the inflationary pressure and the rising prices. In the fourth quarter of the current fiscal, that is, January to Aprial 2010, the interest rates may be hiked by 0.5 percent say experts from the Financial sector.

Mr. Parekh, the Chairman, speaking at a forum mentoned that the lowering of interest rates earlier this fiscal has resulted in the growth of Home loan approvals at the rate of 30% during July-September and that there is enough surplus with the commercial real estate developers at this point.

So, those who have homw loans running on their sweet homes must keep their fingers crossed. For those who are trying to buy a new house on loan, hurry up or you will end up paying more.