It's grim news for householders today that they are facing higher mortgage interest rate payments. Permanent TSB has been the first lender out of the traps to hike its rates this year, but all the others will now follow.
And it's bad news not just for hard-pressed families. Workers in both the public and the private sectors have already been struggling to cope with reduced incomes thanks to higher taxes and lower pay.
That means they've less to spend so the retail sector is also hurting badly. Mortgage hikes are going to have a further negative impact on the economy. Most people will cut back on everything just to keep up their mortgage repayments.
It had been anticipated that interest rates would rise, but the mortgage misery is coming sooner than expected. It leaves people wondering what they will be hit with next.