Fearing that interest rates will soon start to rise, more Singapore borrowers are turning to fixed rate home loans.
The prospect of higher repayments has become far more pressing in recent weeks with the United States Federal Reserve's decision to begin cutting back its stimulus spending.
That paves the way for US interest rates to eventually rise, which will inevitably mean they will rise here too, as Singapore's interest rates closely follow those in the US.
A rise in short-term interest rates would hurt home loan borrowers as many are on floating rate packages that are linked to these rates.