Interest rates *aren't* insane.
They're moderately high but not extremely so. We just got hooked on extremely low rates over the last couple of decades.
Here's the U.S. Fed Funds interest rate. It's higher than it has been, but it's not close to being off the charts historically (and lower interest rates *usually* mean higher unemployment & lower wages–which hits certain SES groups harder than others; also see fred.stlouisfed.org/series/FEDFU... ):