Interest Rates have Peaked: says HDFC Chairman

Interest rates in economy including home loans have peaked and it is unlikely they would go up further, said Deepak Parekh, HDFC chairman, according to a Times of India report on July 10.

“I think interest rates have already peaked. I don’t see RBI hiking rates in the upcoming credit policy nor do I see interest rates coming down in near future, Parekh added.

In the backdrop of falling inflation, pressure on home loan rates too have eased. Inflation for the week ended June 23 stood at 4.13 per cent way below the RBI’s threshold level of 5 per cent for the current fiscal.

Although interest rates are not likely to go up further, there was little chance of rates coming down in the near future, he said.