Mortgage Interest Rates 2024 Graph. At the beginning of 2024, rates fell but have started to rise again. Experts estimate that mortgage interest rates should peak near 7% — possibly up to 8% — and gradually trend lower, potentially landing between 5% and 6%.
The graph above shows the mortgage rate history in canada from 1975 to 2024, based on the posted rates by canada’s six major banks and collected by the bank. Over the years and previous decades, mortgage interest rates have changed in accordance with the bank of england base rate.