Wednesday, July 30, 2008

Increase in Home Loan Interest rate- Another shot in the arm

I don’t know if this is my luck but suddenly this questions keep popping my mind “why me only”. Indian story was good and everything was in place. We saw people making money from everything and a huge burst in job market. Real estate for something where thousands was worth lakhs and lakhs was worth crores. Seemingly everyone is into everything and coming out with flying colors. Even if you not actively buying or selling, the worth of properties in hand was good enough to make you feel better.

I don’t know if I am victim but in sheer euphoria I took out decision to invest in two places. Banks like HDFC, Axis, ICICI, LIC etc. was giving you loans like anything for anything on which you put your hands on. Almost every analyst was of view that interest rate would go down and inspite correction you should go and buy. So I did and for some month the rates did got lowered but now it has crossed my rate and tenure of both my loans has been increased.

You need to be optimistic and yes I am. There is a hope that low rate would counter against the high ones in near future. The markets runs in cycle and probably I made the wrong decision. You need to sustain this phase in since property is something which have a habit of giving you something, I am hopeful that my short term investment….which now is long term would benefit me somehow.

To be straight forward, there is no option left in front of you. You need to be positive about it and wait for low interest rate to happen so that your high effect gets compensated. This is market and everyone say that best time to invest is now. I agree if you thinking of long term, go ahead for now I think these things are behind me and I am again thinking to cash in the latest bust. You need to e optimistic somehow.


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1 comment:

debt consolidation said...

There are so many home loans on the market these days with an increasing variety of rates, fees and features that it really pays to shop around. Thanks for the info!

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