Consolidating debt with your mortgage
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This means that we cannot count on them to stay this low forever.
You could also sell your house to pay off debts, though this should be a last resort and pertain to your situation, e.g. There are things to know before using your home equity line, so to choose the best way / option that fits your situation, especially if you're retired and your income has changed, talk to a trusted, accredited non-profit Credit Counsellor.
Sometimes you can get the same interest rate on your second mortgage as you got on your first mortgage, but this isn't always possible (talk to your lender to find out more).
Ever since the early 1980's mortgage rates have been declining in Canada.
They peaked at over 20% at that time but are now typically offered in the 3% - 6% range.