The Consequences of Rising Home Loan Rates are in the form of increased stress and worry. People have become heedless of their personal financial situation. They are not concerned about the state of their credit scores. Most of them are not taking any action on the basis of this. When things get back to normal, the situation will be very different.
As a result of the above said factor, the credit scores will get reduced. This may affect your credibility in the market. Even if you have taken the steps to improve your scores, it is very difficult to get new loans at lower rates.
This is the worst situation that the economy is facing at the moment. People are forced to take up jobs in order to support their families. With unemployment on the rise, paying off the loans also becomes a very difficult proposition. Many people are under …