We will be heading back to 20% Prime rates again like it was under Carter as well. I have a friend who bought a small house, and got a great deal (at that time) on his mortgage at only 16.2%...
Old people love high interest rates, and they love to vote for their own interest (no pun intended). You will see a Congo line of wheel chairs and walkers if they can get good returns on their savings, and to hell with what it means to anything else.