Historical 5 Year Fixed Mortgage in Abbotsford

Historic recurrence is the fancy way to say ‘History Always Repeats Itself’ and it came to my mind as I published this Mortgage Rate Chart below. By definition on Wikipedia; “Historic recurrence is the repetition of similar events in history.[2] The concept of historic recurrence has variously been applied to the overall history of the world (e.g., to the rises and falls of empires), to repetitive patterns in the history of a given polity, and to any two specific events which bear a striking similarity.[3]  “

While it is often remarked that “History repeats itself,” it was Mark Twain, who has been quoted as saying that “History does not repeat itself, but it does rhyme.”[7]

Either way, as a rule of thumb or in general, history does give us hints to the future. It seems to me the higher interest rates of the past are coming back one day. This will be good news for investors of Stocks, Bonds and Mutual Funds. But if you are planning on borrowing money, do it sooner then later while you can afford the lower rates! 🙂
5-Year Historical Fixed Mortgage Average Rates
 
 
1957 6.85% 1971 9.43% 1985 12.18% 1999 7.39%
1958 6.80% 1972 9.21% 1986 11.22% 2000 8.20%
1959 6.98% 1973 9.59% 1987 11.14% 2001 7.18%
1960 7.18% 1974 11.24% 1988 11.60% 2002 6.70%
1961 7.00% 1975 11.43% 1989 12.05% 2003 6.04%
1962 6.97% 1976 11.78% 1990 13.24% 2004 5.80%
1963 6.97% 1977 10.36% 1991 11.16% 2005 5.48%
1964 6.97% 1978 10.59% 1992 9.52% 2006 5.98%
1965 7.02% 1979 11.98% 1993 8.70% 2007 6.36%
1966 7.66% 1980 14.32% 1994 9.34% 2008 6.41%
1967 8.07% 1981 18.15% 1995 9.22% 2009 5.05%
1968 9.06% 1982 17.89% 1996 7.94% 2010 4.82%
1969 9.84% 1983 13.29% 1997 7.07% 2011 4.57%
1970 10.45% 1984 13.61% 1998 6.90% 2012 4.24%
 
 
2013 Average 3.00%

By Referral Mortgage Consultants*

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1 – 32540 Logan Ave
Mission BCV2V 6G3
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&
8387 Youg Rd
ChilliwackBCV2P 4N8
 
Dave  604 897 2741 Jordi 604 615 1312
www.AbbotsfordsMortgageBroker.com
www.BRMC.ca
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*By Referral Mortgage Consultants – doing business as BRMC is: Verico Preferred Financing Inc / Verico Canadian 1st Mortgage Corp which have a co-brokering agreement and there is a common Mortgage relationship and are licensed with the Verico Dreyer Group. Mortgage ownership, that employees of both Mortgage companies may review, advise and help process the Mortgage files. That Verico Preferred Financing Inc & Verico Canadian 1st Mortgage Corp share the some expense and income from mortgages. Kim Langille Featured on thess site is an unlicensed mortgage assistant only, not a Mortgage Consultant. Jordi Browne featured on this site is the Mortgage Broker of record. “The Broker” is Jordi Browne. Jordi Browne also holds a Life Insurance License and represents Verico Canadian 1st Mortgage Corp. Dave Browne featured on this site has a Life Insurance License too but is an independent agent– Jordi and Dave Browne co-broker life insurance files and share expenses, all income retained by Verico Canadian 1st Mortgage Corp.

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