“homemade” means “made at home” while “handmade” means made by hand, not by a machine. Many “homemade” items are also “handmade,” because people who make things at home aren’t factory owners and can’t afford expensive machinery. Likewise, many “handmade” items are also “homemade.”
However, items that are best made, or that can only be made, by hand (without the use of machinery) can be made in large shops, or even factories, by large numbers of skilled artisans (or not so skilled, if the items are rather crude) all working under the same roof. It would not be appropriate to describe articles produced under these conditions as “homemade” even though they were “handmade.”
So, no, “homemade” and “handmade” are not interchangeable, although they often overlap.
