4 money tips to note when mortgage rates rise

SINGAPORE – All good things must come to an end and that is the case for cheap money in the form of super-low mortgage rates that left many home buyers with a bit more cash in the kitty to spend every month.

The change has been fast and furious. Barely six months ago, some banks were offering fixed-rate mortgages of around 1 per cent, but now they have hit 3 per cent or more, breaching even the “psychologically important” 2.5 per cent mark for many home owners.