Mon - Fri : 9:00 AM to 6:00 PM

529 Wilson Avenue Toronto, ON M3H 1V1

Home >  Blog >  Putting Mortgage Rates into Perspective

Putting Mortgage Rates into Perspective

Posted by Sherwood Mortgage Group on 2 November 2018
Putting Mortgage Rates into Perspective

While many are understandably concerned about Bank of Canada's recent interest rate increases, doomsayers and skittish home buyers should keep in mind that mortgage rates were once much, much worse.

In the '80s, Canadian home buyers had access to cheaper housing, however, they also had to face mortgage rates ranging from 15-18%.

If you're worried about mortgage rates of 3-5% on your home, watch this piece from the CBC archives to understand current rates within historical context.

Author:Sherwood Mortgage Group

®TM Trademarks of AM Royalties Limited Partnership used under license by LoyaltyOne, Co. and Sherwood Mortgage Group.