No home loan rate hike: FM

MUMBAI: Home loan rates will remain at current levels as banks, most of which were reluctant to raise them again, have been told to stay put by the finance minister.

“I’ve requested the banks and they’ve decided to hold the rates at current levels,” P Chidambaram said in New Delhi after a meeting with heads of public-sector banks.

Big private-sector mortgage entities such as HDFC, too, have ruled out any change. But going for that new car or two-wheeler is likely to become slightly more costly from next week.