Confidence among households with a mortgage has dropped sharply in the past month as expectations build for a hike in the cash rate by the central bank in just a few months' time, with more increases to follow.
The overall Westpac-Melbourne Institute consumer sentiment index fell by a further 0.9 per cent to 95.8 points in April - its lowest level since September 2020 and when COVID-19 pandemic fears were dominating.
