Respond to a comment about the impact of higher mortgage rates on borrowers.
I am not saying you are a moron, but your comment is moronic. When rates were higher, borrowers took on less debt so a 1 or 2% increase in their mortgage rates not only caused a lesser percentage increase in the rate., but it was on a much lower amount of debt. Today, someone with an $800,000  mortgage outstanding facing an increase in mortgage rate from 3 to 5% faces a much larger increase to their payments than someone in the past who was facing an increase from 10 to 12% on $150,000.