An historical review of 5-year fixed mortgage rates

An historical review of 5-year fixed mortgage rates

One thing is certain about interest rates ? they go up AND down. No one can predict accurately what will happen next when it comes to interest rates. You can, however, look at how rates have historically behaved.

1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969

6.85% 6.80% 6.98% 7.18% 7.00% 6.97% 6.97% 6.97% 7.02% 7.66% 8.07% 9.06% 9.84%

1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982

10.45% 9.43% 9.21% 9.59% 11.24% 11.43% 11.78% 10.36% 10.59% 11.98% 14.32% 18.15% 17.89%

1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

13.29% 13.61% 12.18% 11.22% 11.14% 11.60% 12.05% 13.24% 11.16% 9.52% 8.70% 9.34% 9.22%

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

7.94% 7.07% 6.90% 7.39% 8.20% 7.18% 6.70% 6.04% 5.80% 5.48% 5.98% 6.36% 6.41%

20%

Average since 1957: 9.54%

15%

10%

1957 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2008

5%

Source: Bank of Canada ? Copyright 2007, Mortgage Architects, all rights reserved.

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