As a Buyer The Mortgage Rate Change Could Hurt YouCheap mortgages cannot last forever and years from now there is a good chance home buyers will look back at today's super-low rates. More expensive mortgages will hurt the already lousy housing market. Refinancing drove consumer spending before the crisis and it can still save homeowners a lot of $$. The last quarter of 2011 had $281 billion in refinancing yet $79 billion below a year ago when the rates were higher. Remember that when rates register a lasting rise, be prepared for another nasty side-effect of low rates...the impact of each percentage-point increase on payments seems more painful. That is one more reason we will remember the good old days of low rates.March 29 2012 - Spokane00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.