Morgage Interest Rates!!! Do you think they are too high??? / myLot

Australia

October 24, 2007 6:32pm CST

I reckon the morgage interest rates are far too high, the money lenders seem to be raking in the money from the over worked average worker. What are the interest rates in your country? Do you think they are too high? what's your opinion?

2 people like this

2 responses

lilaclady

@lilaclady (28207)

• Australia

25 Oct 07

Hello Jan135 I live in Melbourne and I think people are so lucky to have such low mortgage rates, I paid my house off as a single female when the rates were 18 & 1/2 % and the wages were not as good as they are today so if I had the rates of today I would have done it a whole lot easier.

1 person likes this

@AeroChickie (459)

• Canada

30 Nov 07

I think our mortgage rates are very reasonable (I'm in central Canada). Historically, they're pretty low. Right now they probably range from 5% to 8%, depending on the type and length of mortgage. Variable rate mortgages are the cheapest (but have the greatest risk as the rates can change/increase at any time). For fixed rates, the longer the term, the higher the interest rate.