Haha, where's your "cash" sitting? I'm in the same boat, but mine is in equities, which have already lost 25% of their value since January, and there's probably more pain to come.

Of course I could have kept this cash in a bank or under the mattress, but not only would I have missed out on massive gains over the last few years in the stock market, I'd also now be losing 10% per year to inflation.

There is just no refuge in our modern financialized economy - we're all forced into the casino.

Yes, just remember though house prices don't track the mortgage rate immediately. I personally would not buy a house in the next 6 months, as I think prices will trend down.