I realised that my blogging frequency has been going down recently. It has been a busy time at work with the deadlines for the deliverables of a few tax advisory projects overlapping. I just want to get through this week before we fly off to Seoul (South Korea) for a short holiday. Looking forward to that!

Anyway, I just read this post by Budget Babe on understanding home loans in Singapore and started thinking about our home loan. We bought our apartment in the East in 2011 and the interest rate then on our housing loan was 3-month SOR (Swap Offer Rate) + 0.75%. It has since increased to 3-month SOR + 1%.

The 3-month SOR has increased over the years causing our monthly mortgage amount to increase. The current interest rate on our housing loan is 2.2% and we expect this to go up in time. This goes …