Is Canada in a Mortgage Crisis or a Bank Failure

Why do people think a 5% mortgage is high? Is there really a housing crisis? Are we blind to history? These are 3 questions we will try to help you understand.
For the last 5 or 6 months, house prices have been in decline, but then this month, in september prices have bounced back with a 3.1% increase compared with the previous month.
Why did the average price come back up?
We've been looking at mortgage rates getting to 5% and it seems to many people that the world is coming to an end. Is 5% really that high a mortgage rate?
As mortgage rates increased, average house prices were declining as buyers were sitting on the sidelines, concerned about paying 3.5% or 4% for their mortgage.
To put this in perspective, the average mortgage rate in Canada over the last 40 years is about 7%, so 5% can be