[Soren]

A sharp increase in interest rates would devastate all those who have refinanced their debt to take advantage of low short term rates.

[dalereed]

I do work for a woman on her rentals and she just sold a condo and bought a new home for a rental and was going to get an adjustable rate loan and I told her if she did she was sticking her neck out a mile, the inital rate difference between a 30 year and an adjustable was only 2/3 of a point.