No need to panic but exercise care as rates rise amid economic uncertainty

For those is as stark a sign as any that the era of cheap financing is over.

Singapore's biggest lender lifted its fixed rates on mortgages to 2.75 per cent, following on the heels of OCBC Bank which offered a fixed rate package at 2.65 per cent. At 2.75 per cent, a couple with a $400,000 loan over 25 years will pay around $1,845 a month. The question now is how much higher rates will go. In March, the United States Federal Reserve raised rates from zero to 0.25 per cent to 0.25 to 0.5 per cent, the first hike since December 2018.