Interest rates going up means economic collapse will follow.

Long-term U.S. Treasurys sold off again on Wednesday, pushing yields to a 16-month high in a thinly traded session ahead of the Thanksgiving Day holiday.

The average rate for a 30-year fixed-rate mortgage increased to 4.03%, from 3.94% last week. A year ago, the rate was 3.95%.

The 2-year Treasury yield TMUBMUSD02Y, +0.00% hit an intraday high of 1.15% but closed 4 basis points higher at 1.135%, the highest level since April 2010, according to FactSet.

The 10-year Treasury yield TMUBMUSD10Y, +0.00% hit an intraday high 2.417%, though it climbed down to close 3.6 basis points higher at 2.355%, the highest level since July 2015.

The yield on 30-year Treasury bond rose 1.6 basis points to 3.022%, hovering near 12-month highs.

"The 2, 5 and 10 year rates are moving much faster than the 30 year rate this is called the flatting of the yield curve. When short term rates reach the levels of long term rates this means investors lack confidence in current economy and a recession usually follows"

"This coming recession will be much different any other recession in the Federal Reserve's 103 year history because the Fed has no ammunition left. They can't simulate the economy because the fund rate is already near zero. The only tool they have left is to print, print and print more money but you start to look like Venezuela after that."

"If rates continue to go up you will start to see major cracks appear in the housing, auto and bonds markets as debt become harder to pay off and the companies and people that rely on cheap debt to fund their purchases will be forced to live within their means or go bankrupt."

"Here you can see the relationship between mortgage loan applications and the current interest rate."

http://www.marketwatch.com/story/key-treasury-yield-jumps-to-16-month-high-2016-11-23

http://money.cnn.com/2016/11/23/real_estate/mortgage-rates-higher-4-percent/