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Thread: Historical Interest Rates Data
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Fri, Mar 27th, 2015, 06:48 PM #1
Does anyone know if there is a website where you can look up historical interest rate data for the major financial institutions?
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Fri, Mar 27th, 2015, 09:48 PM #2
not sure is this is what you're looking for but this is for cibc. prime interest rates going back to 1974.
http://www.fin.gov.bc.ca/PT/bcm/ref/...ricalPrime.pdf
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Fri, Mar 27th, 2015, 10:31 PM #3
Thank you!
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Fri, Mar 27th, 2015, 11:59 PM #4
Not sure what you are looking for. . .but a lot of economists believe we won't see a pattern by looking at the past statistics. They say because the world is so much more closely connected to each other's economies that past statistics are at least unlikely to be relied upon.
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Sat, Mar 28th, 2015, 12:37 AM #5
I was just wanting to look up some figures after a conversation a few of us had at work today. It seemed like most of us have fixed rate and we were comparing the rates from when we locked in, to those in the office who have a variable rate. We have a lot of statisticians in the office who love data!!
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Sat, Mar 28th, 2015, 03:49 AM #6
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i woulda hate to have a mortgage in the 80's!
When life hands you Edward Cullen...throw him back and demand Eric Northman....
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Sat, Mar 28th, 2015, 09:27 AM #7
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Lot of the rates you will see in the historical table will be the posted rates of the banks , which are often quite high. Most people get a discounted rate, which will be much lower.
Like BMO has a 2.79 % fixed rate for 5 yr right now . Its a special rate with some terms & conditions ..but their regular 4.74 % rate for 5 yr MTG, will probably show up in those historical tables..so huge 2 % difference between the 2 rates .
http://www.bmo.com/main/personal/mor...mortgage-rates
The special rate is good..if you are not going to break the MTG or port your MTG anytime soon ..as the penalties are usually higher.
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Sat, Mar 28th, 2015, 09:32 AM #8
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But the house prices were much much lower then .. even if you consider inflation.
Also the interest you got on your savings account , chequing account , investments was much higher.
Todays low rates & low downpayment requirement, have enabled some people to buy houses they can't even afford ..they just don't have the salaries for that.
A slight increase in rates is going to the end the party soon
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Sat, Mar 28th, 2015, 06:25 PM #9Built Bars 15% off sitewide, free shipping when you spend $25. User the code LOUISE2020 to get another 10%
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Sat, Mar 28th, 2015, 10:32 PM #10
Not to disagree, but 2.79 is actually not a good rate. BMO got a pretty good "roasting" in financial circles when they posted this Big "special". They going best rate amongst many lenders at the moment is either 2.59 or 2.69%
So when BMO made this big announcement, they received some serious mocking in financial circles. I was actually quite surprised myself. BMO isn't usually so far off base. . . ?
Also you made an excellent point TJ. The posted rate is a bit of an elusive comparison because many customers would have had any variety of discounts for that rate.
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