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<p>[QUOTE=&quot;Cloudsweeper99, post: 1415253, member: 3011&quot;]Americans have traditionally borrowed only when they expected the future to be much better or when their other investments [e.g., homes] were appreciating faster than the debt accumulated.&nbsp; Now, with super low interest rates to depress the capital base, wages, raises, savings, etc... borrowing is down, not up with the federal government trying to take up the slack.&nbsp; Low mortgage rates only serve to prop up housing prices and keep first time buyers out of the market.&nbsp; With higher mortgage rates and correspondingly lower home prices, the monthly payments would be the same but it would be far easier to come up with the down payment.&nbsp; So I think the negative impact of low rates extends much farther than just one subset of the country.[/QUOTE]</p><p><br /></p>

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