In the housing boom, many people turned to cash - out refinancing to replace soaring interest rates, with lower ones. (pennymacusa.com)
With soaring interest rates on credit cards many people find it difficult to find the money each month to pay their debts. (debtconsolidationusa.com)
This makes a big pump in interest rates extremely unlikely, as soaring interest rates would create a debt service burden that would likely cause huge pain in most sectors, which central banks would have to address with an even more «accommodative» monetary policy. (cambridgehouse.com)