Housing Finance companies look to slash MCLR

With the State Bank of India slashing external benchmark rates by a quarter percentage point, home financiers could do likewise. Housing finance companies are now considering rate reductions by up to 25 basis points across products. They will hold asset liability committee meetings in January to decide new rates. LIC Housing Finance took the lead in cutting rates just a few days ago. The likes of HDFC, PNB Housing Finance, and Indiabulls Housing have begun examining the commercial viability of reducing rates, said people familiar with the matter.