As I have always stated over time inflation is a borrower's best friend as it is the easiest way to reduce relative debt levels. Sure if interest rates go up there are additional costs to for the borrower to meet but if they are worried about higher interest rates because they wouldn't be able to meet the repayments then they should fix their loans for security. At the end of the day the inflation effects will affect your borrowed amount far more over the long term than what in all probability is higher rates over a few years - you just have to be capable of riding out the higher rates for that period of time.
