How do interest rates affect economic growth?

Take a look at the following aritcle from the Daily Mail:

http://www.dailymail.co.uk/news/article-1348463/UK-inflation-triggers-mortgage-rate-rise-fears-cost-living-increases.html

In Unit 4 we learn that interest rates are designed to slow down economic growth when it gets too 'hot' and to keep inflation at bay. One of the effects is that a high interest rate effectively gives people with mortgages less disposable income. This article is all about that and what people are doing in order to keep their mortgage rates low before there the rate goes up.

Well done to George Miller for finding the article.