How Do Our Parents Mortgage Rates Of 17% Compare To Us Today?

When looking at mortgage interest rates today, our parents compare and boast a high 17% rate when they bought a house.

Turns out interest rates were high, but were our parents worse off? The interest rate rises we are going through now are the fastest interest rate rises since 1989/90. 

Looking back at 1989/90, with mortgage interest rates at 17%, the household debt-to-income ratio was 63%. Compare this to our current economic climate, we have mortgage interest rates at 6% with a household debt-to-income ratio at a staggering 190%.
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When comparing these variables, the 17% mortgage interest rate back in 1989/90 is equal to a 6% mortgage interest rate now.