[mhewett]

History.

In the late 1970s you could get 17% return on your savings account and mortgage rates were well above 10%. People still bought houses.

[toasterlovin]

I'm not talking about a steady state. I'm talking about the transition from a low interest rate regime to a high interest rate regime.

[kazinator]

If someone barely qualified for a mortgage in a 2% environment, and now suddenly is faced with 10%, that's a bit of a shakedown.

[djrogers]

Nobody, anywhere, ever, in the history of this topic, has suggested the fed would raise rates such that rates would 'suddenly' jump to 10%. That's the straw-iest of straw-men.