HDFC chief expected a 10-20 per cent fall in property prices in three to six months and demand for home loans easing.
Mumbai: Despite the surprise hike in the repo and reverse repo rate this week by RBI, Mortgage lender Housing Development Finance Corporation Ltd (HDFC) has ruled out any hike in existing home loan rates.
HDFC won't raise home loan rates for now despite an "upward pressure" in cost of funds, Chairman Deepak Parekh said on Thursday.
He also said he expected a 10-20 per cent fall in property prices in three to six months and demand for home loans easing.
"As property prices have peaked, demand for loans will slow down," he said.
Despite this, he expected HDFC's housing loans to rise 25-30 percent in 2006-07.
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