February 1, 2011 / 1:21 PM / 9 years ago

CORRECTED - India's HDFC raises home loan rates by 25 basis points

(Corrects lead to say HDFC raised rates by 25 basis points and not 25 percent)

MUMBAI, Feb 1 (Reuters) - Housing Development Finance Corp (HDFC) (HDFC.BO), India’s top mortgage lender, said on Tuesday it would raise its lending rates by 25 basis points with immediate effect.

“This is in line with the interest rates in the economy, which have hardened due to an increase in policy rates, inflation and liquidity in the domestic market,” the company said in a statement. (Reporting by Sumeet Chatterjee; Editing by Aradhana Aravindan)

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