Breaking news! Our 3 local banks DBS, UOB and OCBC are raising fixed rate home loans to as high as 3.85%. In this article, we are gonna try to dig into the past home loan interest rate history and answer the question on everyone’s minds – How much will mortgage rates go up in 2022 in Singapore? If you would like to watch a video instead, you can click on the Youtube video below.

Trajectory of mortgage rates

First of all, lets digest the news a bit. Due to the rising interest rate environment, our 3 local banks are reviewing their fixed rate packages. DBS is offering four fixed rate packages available, ranging from two to five years. All four are set at 3.5% per annum. https://www.dbs.com.sg/personal/rates-online/home-loans.page This is a steep increase from the 1.8% 5-year fixed rate in 2020. So we are looking at around...