Call for banks to reduce mortgage rates

Date: 
Monday, March 7, 2016 - 00:00

Banks are being urged to lower their mortgage rates in light of a recession.
Commercial banks have been criticised for increasing rates twice in less than three months.
The last increase was on March 1st after the Central Bank increased the mortgage market reference rate.
Economists are calling on the banks to reconsider since many people will be unable to afford the increases. 
Judy Kanhai has the details.