Home loan interest rate reduced to 15-year low, will real estate be able to recover from recession?

When searching for a home, home buyers consider the interest rate of the home loan the most. In the last one year, home loan interest rate has come down to a 15-year low of 6.6 per cent. At such low rates, home loan interest rates seem attractive even to a casual observer. Therefore, this may be a good time for those wishing to buy a home to benefit from a lower interest rate. Apart from this, competing banks and HFCs (Housing Finance Corporations) also offer incentives to borrowers. For example, an additional rebate strategy is adopted for those applying online, first-time borrowers and affordable home buyers. However, we are living in unprecedented times against the backdrop of the Corona epidemic, which has severely affected people’s livelihoods and salaries. So before taking advantage of low interest rates, consider the possibilities before taking a loan blindly for your dream home.