FB, interest rate rises will happen slowly and people adjust.
Most Mortgage holder have been use to higher interest rates and are probably making the same repayments as they were when interest rates where higher.
People that took out loans more recently would have factored in higher interest rates and many would have locked in with a fixed rate for part or all of their loan.
If we had a doubling of interest rates there would be a bit of a fall out but that is unlikely to happen over night.
