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The umbrella group representing local realtors is expressing concern about a possible increase in mortgage rates.
Monday's adjustment in rates at Jamaica National Building Society (JNBS) has sparked fears that a sustained increase in the cost of borrowing could place a damper on the real estate market.
President of the Realtors Association of Jamaica, Edwin Wint, says a return to a high interest rate regime will have serious implications for the sector.
"If this is going to be the way forward, we will be going back into the high interest rate regime scenario then we will raise the alarm," said Mr. Wint.
"If this is a short term strategy to mop up liquidity and when the dust settles we can resume the low interest rates then we would only have a concern for the moment,"
"So the question is, is this going to be short term, medium or long," he continued.
Monday's adjustment in rates at Jamaica National Building Society (JNBS) has sparked fears that a sustained increase in the cost of borrowing could place a damper on the real estate market.
President of the Realtors Association of Jamaica, Edwin Wint, says a return to a high interest rate regime will have serious implications for the sector.
"If this is going to be the way forward, we will be going back into the high interest rate regime scenario then we will raise the alarm," said Mr. Wint.
"If this is a short term strategy to mop up liquidity and when the dust settles we can resume the low interest rates then we would only have a concern for the moment,"
"So the question is, is this going to be short term, medium or long," he continued.