20-year home loans are now 24 years long. Here's how

Home loan rates have risen sharply in the past fi ve months, from 6.5% to 8.25%. A 20-year home loan taken in 2019 at 6.7% will get repaid in 21 years, even though EMIs have been paid for three years.

from Banking/Finance-Industry-Economic Times https://ift.tt/aydzErg