New Delhi: The Reserve Bank of India’s Monetary Policy Committee (RBI-MPC) on Wednesday decided to keep the repo rate unchanged at 5.50 per cent after its bi-monthly meeting.

Keeping the repo rate steady means the Equated Monthly Instalment (EMI) and interest burden on the home loan will not change.

In its last meeting, the MPC had lowered the repo rate by 50 basis points, bringing it down to 5.50 per cent from 6 per cent.

The RBI has cut the repo rate by 100 BPS between February and June this year, following which major banks have brought their Home Loan rates as low as 7.3 per cent. Currently, home loan rates from top lenders such as the State Bank of India (SBI), Canara Bank, HDFC Bank, Bank of Baroda, and ICICI Bank start at 7.3–8 per cent.

“The RBI’s decision to maintain the repo rate at 5.5 per cent despite easing inflation reflects a cautious yet balanced approach to managing global headwinds and domestic stability.

For the real estate sector, a status quo on rates ensures continued momentum in homebuyer sentiment and sustains the affordability factor in housing,” said Prashant Sharma, president, NAREDCO Maharashtra.