State Bank of India has announced a cut in home loan rate by up to 0.25 per cent and it will be effective from today. In a statement issued in New Delhi yesterday, SBI said, it is higher than the reduction of 0.15 per cent in base rate that came into force on 10th of this month. The bank said the home loan rate stood at 10.1 per cent for women borrowers prior to the reduction in base rate. It will now be 9.85 per cent.For other borrowers, the new rate is 9.9 per cent, down from 10.15 per cent before base rate cut. The rates will be applicable for all new home loans sanctioned on or after today. Experts say that this will come as a relief to the real estate sector, which of late has been facing bad weather. They said other banks are likely to follow suit.Earlier Country's largest mortgage firm, HDFC limited had reduced home loan rate by 0.2 per cent to 9.9 per cent for new as well as existing borrowers.