Forty-nine percent of Americans in a survey released Tuesday by Bankrate.com expressed concern about rising interest rates in 2017.
This was well up from a year ago, when 41% of survey respondents said they were worried about interest rates going up.
Princeton Survey Research Associates International conducted telephone interviews in English and Spanish in early January with 1,003 adults living in the continental U.S.
The chief cause for worry was the effect of rising interest rates on the stock market, cited by 21% of respondents in the study, up from 16% in 2016.
“As the stock market has moved higher, more Americans are concerned that rising interest rates could be the market’s undoing,” Bankrate’s chief financial analyst Greg McBride said in a statement.
Eighteen percent of respondents said they were concerned how higher rates might affect their personal financial situation.
Bankrate noted that overall, adults between 26 and 51 were slightly more inclined to express nervousness about rising interest rates. These fears diminished as respondent’s education levels and household income increased.