Rate hike and seasonal slow-down double-whammy? - NewsBreak

Brokers consulted by MPA have expressed concerns about the housing market after mortgage rates rose sharply last week – with fears there could be more increases on the way. The average interest rate jumped nine basis points on Thursday to 3.10% for fixed 30-year mortgages, which caused a shock among some brokers, particularly as the rate was below 3% just a week earlier.