Aurora Fire Department arson investigators are sifting through two mobile homes that burned in separate, but nearby, mobile home parts this morning.

In the Monetary Policy Review, the RBI raised the repo rate by 0.25 per cent to 7.25 per cent. There will be no impact on home and auto loans due to the hike.

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Home and auto loan rates will not be affected but personal loans and borrowings for consumer goods and equity market investments are likely to cost more, as banks facing liquidity crunch may pass the hike in repo rate, a key overnight lending rate of RBI, to customers.

Mumbai, Oct. 31 : Borrowers of home or car loans need not worry, at least for now. With the Reserve Bank of India (RBI) leaving key rates, including the reverse repo, unchanged, bankers are forecasting a stable interest rate regime in the shortrun.

Repo homes are also known as real estate owned properties (REOs) or bank foreclosure homes. When a homeowner cannot make the mortgage payments and defaults on the mortgage, the lender starts proceedings to repossess the home. When the repossession process is finished, the lender owns the property and sells it to recover their losses. If you want to invest in foreclosure homes and real estate properties but your budget is limited, then purchasing repo houses is your answer.

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