Imagine taking and paying off a 20 year home loan EMI for 24 years. Rising Home Loan Rates mean that borrowers who took long term home loan Troubled with more tenure than his original term 2-3 years ago. Home loan rates have risen sharply from 6.5% to 8.25% in the last five months. A 20-year home loan taken in 2019 at 6.7% will be repaid in 21 years, even if the EMI is paid for three years.