The recurring rise in home loan rates has been hitting the borrower hard since some time now. The common man has been forced to succumb to the pressure and put many of his other financial plans on the back seat as of now.
Many borrowers are facing a similar problem that the initial estimations in terms of loan repayment which they had made while taking the loan have now exceeded way further thereby bringing the heat on them.
Although there has been a sustainable rise in income of people in last few years, so the interest rate hike can be coped up by them, but what remains the question for most is that how much would they be able to save over and above this.
Many borrowers have given up their plans of getting a new car or so.