The 2013 Mortgage Holder

After numbers were released by CAAMP this week in their Annual State of the Residential Market Report, we’re able to have a pretty good picture of what the mortgage consumer in 2013 looks like. The information tells us quite a bit about the marketplace and who’s looking to buy right now.

  • 450,000: The number of households that bought homes over the past year
  • 400,000: The number of buyers who took mortgages
  • 8.6%: Average annual growth of mortgage credit in Canada over the past decade
  • 86%: Percentage of borrowers with less than 20% down who chose a fixed rate
  • 3.50%: The average mortgage interest rate for homeowners’ mortgages
  • 63%: Percentage of respondents who indicated that they did not regret their mortgage choices
  • 68%: Percentage of respondents who were in agreement that mortgages are “good debt”
  • 43%: Percentage of current mortgage holders who consulted a mortgage broker about getting a new mortgage

*Stats and information pulled from CAAMP and Canadian Mortgage Trends.

Have questions about this information? Please feel free to contact us!

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