Real Estate

Locked: Mortgage Rates In Canada Soar past 10%. (end of 2023)

  • Last Updated:
  • Mar 17th, 2022 2:47 pm
[OP]
Deal Addict
Aug 18, 2003
2303 posts
1207 upvotes
YVR

Mortgage Rates In Canada Soar past 10%. (end of 2023)

Mortgage Rates In Canada Soar past 10%. (end of 2023).

Coming to a bank near you.

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Patience comes to those who wait
14 replies
Jr. Member
Mar 30, 2009
184 posts
199 upvotes
Is this some kind of joke?
Deal Addict
Jan 17, 2006
2442 posts
2649 upvotes
Toronto
Oneshot112 wrote: Is this some kind of joke?
Missed on RE gain bear's kind of joke
Deal Addict
User avatar
Dec 13, 2016
4351 posts
3888 upvotes
Honestly, I could care less either way
Deal Addict
Jan 13, 2014
2568 posts
1685 upvotes
Calgary
better dwelling, is that you?
Deal Expert
Feb 29, 2008
19642 posts
18190 upvotes
Tarrana & The Ri…
As I said, we will be seeing a lot of these kinds of threads as rates rise. Like clockwork.
Deal Guru
Feb 22, 2011
13757 posts
17473 upvotes
Toronto
So you must be chessyj?
Member
Jan 19, 2009
336 posts
257 upvotes
lol thanks for the heads up
Deal Addict
User avatar
Mar 23, 2011
2089 posts
1218 upvotes
Etobicoke
If interest rates got up to 10% the economy would collapse. There's no way the government lets that happen especially with the amount of debt they run themselves.
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"It's better to be dead and cool...than alive and uncool!"
Deal Addict
Jun 15, 2015
1025 posts
1240 upvotes
Thornhill, ON
I would not be surprised at all. And the economy will not collapse. I still remember the "good old days" of 16% mortgage rate.
Member
Jun 25, 2015
243 posts
143 upvotes
Toronto, ON
sherman51 wrote: If interest rates got up to 10% the economy would collapse. There's no way the government lets that happen especially with the amount of debt they run themselves.
What government??
Deal Addict
Apr 8, 2020
1120 posts
1792 upvotes
DisneyKruze wrote: I would not be surprised at all. And the economy will not collapse. I still remember the "good old days" of 16% mortgage rate.
29 years ago?

You realize how different the world is now compared to 29 years ago, right?

Current environment does not support 10%+ rates.
Deal Addict
Jun 15, 2015
1025 posts
1240 upvotes
Thornhill, ON
Jokerpersona wrote: 29 years ago?

You realize how different the world is now compared to 29 years ago, right?

Current environment does not support 10%+ rates.
That's right, the world economy is a lot lot bigger now than 29 years ago. So, it should be able to withstand a 10-15% rate, no problem. Don't you trust Chrystia?
Deal Addict
Jan 5, 2020
1067 posts
1534 upvotes
All jokes aside, I just got a promotional email from Tangerine - 2.8% interest paid on all balances in non registered account.

What a bizarre situation where my savings account interest rate is higher than my fixed rate mortgage. This is foreshadowing the things to come!

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