One Jewish Interpretation of Isaiah 7:14 is as follow:
The seventh chapter in the Book of Isaiah begins by describing the military crisis that was confronting King Ahaz of the Kingdom of Judah. Around the year 732 B.C.E., the House of David was facing imminent destruction at the hands of two warring kingdoms: the Northern Kingdom of Israel, led by King Peqah, and the Kingdom of Syria (Aram), led by King Retsin. These two armies had besieged Jerusalem. Isaiah records that the House of David and King Ahaz were gripped with fear. God sent the prophet Isaiah to reassure King Ahaz that divine protection was at hand – God would protect him and his kingdom and that their deliverance was assured, and these two hostile armies would fail in their attempt to subjugate Jerusalem.

It is clear from the narrative in this chapter, that Isaiah’s declaration (Is 7:14-16) was a prophecy about the unsuccessful siege of Jerusalem by the two armies from the north. The verses Isaiah 7:15-16 state that, by the time this child (whose imminent birth was foretold in Isaiah 7:14) reaches the age of maturity (“… he knows to reject bad and choose good …”), the kings of the two enemy nations will be gone, in fact, they will be killed. Two Biblical passages, 2 Kings 15:29-30 and 2 Kings 16:9, confirm that this prophecy was contemporaneously fulfilled when these two kings were assassinated. With an understanding of the context of Isaiah 7:14 alone, it is evident that the name of the child in Isaiah 7:14, Immanu'el, is a sign which points to the divine protection that King Ahaz and his people would enjoy from their otherwise certain demise at the hands of these two enemies. Clearly, Isaiah 7:14 is a near-term prophecy that is part of an historic narrative, and which was fulfilled in the immediate time frame, not some seven-and-a-half centuries in the future.

Grace is not common.