Business Standard-Homebuying decisions may be impacted if mortgage rates cross 9%: Survey
Nearly 90 per cent of respondents feel that their decision to buy residential properties will be significantly impacted if mortgage rates exceed 9 per cent, according to a survey conducted by FICCI and Anarock.
Industry body FICCI and real estate consultant Anarock on Friday released their joint 'Homebuyer Sentiment Survey', with a sample size of 7,615 people, at a real estate conference here.
"In a recent survey, over 71 per cent of respondents indicated that their home-buying decisions would remain unaffected if rates stay below 8.5 per cent. However, if rates exceed 9 per cent, then it will have a significant impact on over 87 per cent of respondents. For rates between 8.5 per cent and 9 per cent, about 54 per cent expect a moderate influence on their choice," the report said.
