Risk of Interest Rate Rises Intensifies Worries Among Mortgage Holders

Pedestrians pass a bank advertising interest rates on mortgages in Sydney, Australia, on Oct. 3, 2017. Peter Parks/AFP via Getty Images

The expectation of upcoming hikes in interest rates has caused confidence to fall significantly among households having a mortgage in recent months.

The Westpac-Melbourne Institute consumer sentiment index dropped 0.9 percent to 95.8 points in April, reaching the lowest level since September 2020, when fears of the COVID-19 pandemic were dominating.