Canadian Mortgage Rates Near Historic Lows
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Posted by Daniel Workman Feb 8, 2009 |
With all the gloom and doom we read in the newspapers these days, it could be a lot worse. Take low interest rates - a good thing for mortgage holders.
Does anyone remember mortgage rates at 22% back in 1981?
Below is a summary of posted mortgage rates in Canada since 1980.
Canadian Mortgage Rates in 1980s
| 1980 | 14% |
| 1981 | 21.8% |
| 1982 | 18.3% |
| 1983 | 14% |
| 1984 | 14.3% |
| 1985 | 11.8% |
| 1986 | 11% |
| 1987 | 11.5% |
| 1988 | 12.3% |
| 1989 | 11.8% |
Canadian Mortgage Rates in 1990s
| 1990 | 13.5% |
| 1991 | 11.5% |
| 1992 | 8.8% |
| 1993 | 8.8% |
| 1994 | 10.3% |
| 1995 | 9% |
| 1996 | 8% |
| 1997 | 7% |
| 1998 | 7.2% |
| 1999 | 7.8% |
Canadian Mortgage Rates in 2000s
| 2000 | 8.3% |
| 2001 | 7.6% |
| 2002 | 6.8% |
| 2003 | 6.4% |
| 2004 | 6.3% |
| 2005 | 5.8% |
| 2006 | 6.9% |
| 2007 | 7.2% |
| 2008 | 6.9% |
| 2009 | 5.5% |
Can everyone see why I'm happy to renew my mortgage in July 2009? That's my silver lining.
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