People who are too young to have experienced the high interest rates have taken out big mortgages thinking that the low interest rates are normal and without thinking that they might just rise at some point in the future. To make maters worse many have not been paying more off that mortgage to reduce the debt whilst the rates were low and so are now facing some very hard times. On the other hand it might now at last be time for us savers to receive some rewards on our savings.all interst rates have been to low for too long so now when they start to rise people will complain.
When I purchased a property many years ago when the prices were realistic I only borrowed roughly 1.25 times my annual income which rose fast enough so as I could clear my debt within seven years.