| Yeah, this is what happens in a booming economy - interest rates have to go up to prevent overheating the economy and causing a recession. It sucks for anyone looking to buy a house at what really were artificially low interest rates that probably should have gone up sooner, but that train has left the station; it's basic economics and the Fed knows what they're doing. In the overall scheme of things, 5% is still not a bad deal. When I bought my house in the late 70's, mortgage rates were starting to top 12%. A lot of people back then would have killed to get 5%... |
