The hammer of high interest rates may never drop on struggling borrowers

The hammer of high interest rates may never drop on struggling borrowers

What was supposed to be a march back to normalcy for interest rates began just about two years ago. Rates did grind a fair bit higher in the ensuing months, but we’re still nowhere near what would have been considered normal levels prior to the last recession. Now, it’s looking like rates are at or close to their peak for this economic cycle. The hammer of much higher rates may never fall on the many people who have over-borrowed to buy houses, cars, renovations and sundry other things. Read MORE.