India, Oct. 1 -- The RBI's decision to keep the repo rate unchanged at 5.50% ensures that existing home loan EMIs remain stable for now. For new borrowers, this could be an ideal time to lock in a home loan. Although the policy rates remain steady, banks may soon adjust their spreads or introduce competitive schemes, especially during the festive season. Waiting for these offers could help secure a better rate, while acting too quickly might mean missing out on potentially better deals as lenders adjust their offerings.

For existing home loan borrowers, it might be a good opportunity to consider switching lenders if you're not receiving the benefits of lower rates. Ensure you check with your bank to confirm whether the recent rate cuts h...