85% of housing loans now carry 7-9% interest rates, down from higher bands in 2023; what does this mean

Around 85% of India’s bank housing loans by value now carry interest rates of 7-9%, while 15% are priced above 9%, according to Capitalmind CEO Deepak Shenoy. The shift marks a change from 2023, when housing loans were more concentrated in the 8-10% interest-rate range, based on RBI data.