I'm far from a financial wizard but watched a youtube video explaining why going into debt is actually making people money. Even with a rise in interest rates the deflation on the principle amount can actually outpace the interest paid resulting in an net positive effect for the debt holder.

I've always been very adverse to holding any sort of debt and I'm not necessarily going to change, but certain types of debt like mortgages and business loans almost advantageous given the circumstances. Sad state of affairs when saving and real investment is second to borrowing.