1. Annual State of the Residential Mortgage Market in
Canada | CAAMP November 2013
Significant Statistics

2. RESIDENTIAL MORTGAGES IN CANADA
➔ For homes purchased in 2013, 82% had fixed
rate mortgages, overall, 66% of homeowners
have fixed rate mortgages.
➔ 26% have variable rate mortgages and 8% have
combination mortgages.
To see what we have to say about the report: www.firstfoundation.ca
To download the original report: www.caamp.org

3. RESIDENTIAL MORTGAGES IN CANADA
➔ For homes purchased in 2013, 84% of
Canadians have amortizations of 25 years or
less.
➔ Overall 81% of Canadians have amortizations
of 25 years or less.
To see what we have to say about the report: www.firstfoundation.ca
To download the original report: www.caamp.org

4. RESIDENTIAL MORTGAGES IN CANADA
➔ 40% of all new mortgages in 2013 were
obtained through a mortgage broker, while
42% were obtained from a bank.
➔ Overall mortgage broker share has increased
from 25% to 28% since 2012.
To see what we have to say about the report: www.firstfoundation.ca
To download the original report: www.caamp.org

5. RESIDENTIAL MORTGAGES IN CANADA
For mortgages that have been paid off in the last
20 years, repayment periods have been 30%
shorter than the original contracted period.
To see what we have to say about the report: www.firstfoundation.ca
To download the original report: www.caamp.org

6. RESIDENTIAL MORTGAGES IN CANADA
➔ During 2013, the average discount on a fiveyear fixed rate mortgage was 2.13 points.
➔ The average mortgage is 3.06%, compared to
the average posted rate of 5.21%.
To see what we have to say about the report: www.firstfoundation.ca
To download the original report: www.caamp.org

7. RESIDENTIAL MORTGAGES IN CANADA
➔ For borrowers renewing their mortgage in the
next 6 months, 96% will see a lower rate.
➔ For borrowers who renewed their mortgage in
2013, 64% saw a lower rate.
To see what we have to say about the report: www.firstfoundation.ca
To download the original report: www.caamp.org

8. RESIDENTIAL MORTGAGES IN CANADA
➔ On average, home equity in Canada is 66% of
the value of a home, compared to less than
50% in the US.
➔ 83% of Canadian homeowners have at least
25% equity in their home.
To see what we have to say about the report: www.firstfoundation.ca
To download the original report: www.caamp.org

9. RESIDENTIAL MORTGAGES IN CANADA
➔ Mortgage credit has slowed from an average of
8.6% in the last decade to 4.5% for 2013.
➔ It is projected to be even lower at 3.25% in
2014.
To see what we have to say about the report: www.firstfoundation.ca
To download the original report: www.caamp.org

10. RESIDENTIAL MORTGAGES IN CANADA
57% of the homes purchased in Canada in 2013
were by first time home buyers.
To see what we have to say about the report: www.firstfoundation.ca
To download the original report: www.caamp.org

11. RESIDENTIAL MORTGAGES IN CANADA
During 2013, 38% of borrowers took steps to
accelerate their repayment period, including
increasing their payment amount, making a lump
sum payment or increasing their payment
frequency.
To see what we have to say about the report: www.firstfoundation.ca
To download the original report: www.caamp.org

12. RESIDENTIAL MORTGAGES IN CANADA
Overall, 80% of those surveyed say mortgage
credit is good debt, 84% say that real estate is a
good investment and 80% expressed positive
feelings of confidence and security toward their
mortgages and home ownership in general.
To see what we have to say about the report: www.firstfoundation.ca
To download the original report: www.caamp.org

13. Annual State of the Residential Mortgage Market in
Canada | CAAMP November 2013
Find More Insight on the #OwnGrowProtect Blog
www.firstfoundation.ca

14. Annual State of the Residential Mortgage Market in
Canada | CAAMP November 2013
Download the Entire Report by Will Dunning
www.caamp.org