1 / 8Everyone dreams of owning their own house. But considering the rising cost of houses, there is no option but to fulfill that dream by taking a home loan. But in the last few months there has been a huge increase in home loan rates. Its heavy burden is also falling on the consumers' pockets.2 / 8The biggest impact of high interest rates has been on the sale of affordable homes. According to a report by property consultant Anarock, the affordable housing category has been hit hardest by the monsoon. In the first six months of 2023, nearly 2% of affordable housing sales.3 / 8The biggest reason for this is the record rise in EMI burden. The EMI burden in the affordable housing segment has increased by 20 percent in the last 2 years. Prashant Thakur, head of research at Anarock Group, says that in 20 years, total interest has been outpacing principal.4 / 8Currently, although the Reserve Bank has kept the repo rate constant for two consecutive times, banks have increased interest rates. To give a current example, three banks hiked interest rates earlier this month.5 / 8ICICI, Bank of India and Punjab National Bank raised MLCR on August 1. After this, the interest rates of banks and EMI burden on people's pockets increased.6 / 8Due to rising inflation again, the Reserve Bank is being feared to have to decide to increase the repo rate again in the meeting to be held this month. According to Sunrise Group founder BC Jain, there are several reasons behind the low sales of affordable homes.7 / 8Rising inflation and rising EMIs are the main reasons, but apart from this, rising property prices due to rising demand, rising land costs and rising construction costs are also contributing factors. Jain also said that the government should give some discount to home buyers in this segment.8 / 8Some of the major issues are as follows. A problem has arisen in front of floating borrowers up to 30 lakhs. The floating interest rate has increased from 6.7 percent to 9.15 percent in 2021. EMI in July 2021 was Rs 22,700, which has now increased to Rs 27,300. 20 years only