One of the least interesting property topics is financing. Home loans are dry, complicated, and don’t make for easy reading; which is why home loan interest rates are often overlooked. In fact, you’ve probably heard by now that rates are rising; but what you may not have realised is how serious it’s shaping up to be. Here are some of the reasons we need to watch mortgage rates much more closely:

1. You could be paying much more than you think

A percentage point increase in the home loan rate may not seem like much. This is partly because the payments are monthly, so it may feel as if you’re just adding on a few hundred per month (or you may be paying with CPF, in which case you may notice it at all). 

But we’ve worked out the impact of the rates at different property price amounts ($500,000 to