The chilly winds of slowdown have been quite troublesome for almost all of us, but despite all that chill, there are some safe havens. It is not exactly a safe haven, but a shelter from the cold. The shelter you were planning for all those years. After the RBI's move and governments assurance to monitor the liquidity condition on daily basis, the public sector banks have cut interest rates by 0.5 to 0.75 percent. The floating home loan rate will be available for 10.25%-11% for loans upto 30 lakhs and a maximum of 12% for loans above 30 lakh. The difference of this will have a direct impact on your Equated monthly installments by about Rs 2000. Although it is being widely speculated that the buyers are currently putting all big purchases on hold because of the market with a fear of slow down and high inflation and will not take the bait. The progressive slowdown in demand for the residential sector and investors in the last couple of quarters was a result of RBI's multiple interest rate hikes.This activity might pick up once the main home loan institutions like ICICI and HDFC, which control more than 50% of the market reduce the interest rates.The property loans although have increased from 7-9% in 2006 to 11-12% in 2008. While investors are investing in their dream stocks, it could be a good chance for you to buy your own home.