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Mortgage Statistics for Canada - December 2010

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Mortgage Statistics December 2010

Summary mortgage statistics for Canada - December 2010

Average mortgage value $210,249
Average amortization period 25 Years
Most common rate type Closed Fixed
Most common rate term 5 Years
Best 5 year variable closed 2.05%
Best 5 year fixed closed 3.43%

Average mortgage value for Canada

December-08 $292,489
January-09 $288,911
February-09 $290,152
March-09 $281,549
April-09 $292,952
May-09 $294,487
June-09 $295,029
July-09 $295,086
August-09 $287,617
September-09 $271,745
October-09 $270,378
November-09 $259,513
December-09 $267,601
January-10 $260,652
February-10 $253,304
March-10 $250,309
April-10 $247,572
May-10 $252,639
June-10 $247,677
July-10 $250,497
August-10 $254,209
September-10 $250,060
October-10 $242,780
November-10 $225,328
December-10 $210,249

Average Mortgage Amount for Canada



Geographical search breakdown

Alberta 10.5%
British Columbia 15.5%
Manitoba 9.1%
New Brunswick 1.0%
Newfoundland and Labrador 0.5%
Northwest Territories 0.0%
Nova scotia 1.9%
Nunavut 0.0%
Ontario 50.0%
Prince Edward Island 0.2%
Quebec 9.8%
Saskatchewan 1.3%
Yukon 0.0%

Rate Type breakdown

Not sure 6.5%
Closed fixed 52.0%
Closed variable 31.8%
Open fixed 3.4%
Open variable 6.1%
Total 99.8%

Rate Term breakdown

Fixed Closed (blank) 6.9%
Fixed Closed (6 Months) 0.2%
Fixed Closed (1 Years) 11.2%
Fixed Closed (2 Years) 8.3%
Fixed Closed (3 Years) 8.3%
Fixed Closed (4 Years) 2.2%
Fixed Closed (5 Years) 52.8%
Fixed Closed (6 Years) 0.4%
Fixed Closed (7 Years) 2.6%
Fixed Closed (8 Years) 0.1%
Fixed Closed (9 Years) 0.1%
Fixed Closed (10 Years) 4.3%
Fixed Closed (15 Years) 0.6%
Fixed Closed (18 Years) 0.3%
Fixed Closed (25 Years) 1.7%
Total 100%
Variable Closed (blank) 17.9%
Variable Closed (1 Year) 1.9%
Variable Closed (3 Years) 8.5%
Variable Closed (4 Years) 1.4%
Variable Closed (5 Years) 70.3%
Total 100%
Fixed Open (blank) 50.3%
Fixed Open (6 Months) 2.4%
Fixed Open (1 Year) 7.5%
Fixed Open (2 Years) 4.4%
Fixed Open (3 Years) 35.3%
Total 99.9%
Variable Open (blank) 46.4%
Variable Open (3 Years) 14.8%
Variable Open (5 Years) 38.7%
Total 99.9%

Results by province

Province Average mortgage value Most popular amortization period Most popular rate type Most popular rate term Best Rate Monthly mortgage payment
Alberta
M/M %
Y/Y %		 $224,646
+10.44%
-24.07%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,113.31
 
 
British Columbia
M/M %
Y/Y %		 $235,251
-14.44%
-22.05%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,165.86
 
 
Manitoba
M/M %
Y/Y %		 $128,808
-32.52%
-42.55%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $638.35
 
 
New Brunswick
M/M %
Y/Y %		 $169,107
-3.80%
-2.78%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $838.07
 
 
Newfoundland and Labrador
M/M %
Y/Y %		 $200,952
-3.45%
+20.78%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $995.88
 
 
Northwest Territories
M/M %
Y/Y %		 $247,775
-5.92%
-5.76%		 25 Years
 
 		 Closed Variable
 
 		 5 Years
 
 		 2.05%
+0.00%
-27.14%		 $984.63
 
 
Nova scotia
M/M %
Y/Y %		 $216,246
+10.01%
+4.36%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,071.68
 
 
Nunavut
M/M %
Y/Y %		 $281,000
+21.98%
-14.40%		 7 Years
 
 		 Closed Variable
 
 		 5 Years
 
 		 2.05%
+0.00%
-27.14%		 $1,116.66
 
 
Ontario
M/M %
Y/Y %		 $212,796
-3.59%
-19.53%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,054.58
 
 
Prince Edward Island
M/M %
Y/Y %		 $146,406
-7.65%
-17.82%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $725.56
 
 
Quebec
M/M %
Y/Y %		 $221,079
+0.77%
-8.38%		 25 Years
 
 		 Closed Fixed
 
  		2 Years
 
 		 2.89%
+7.43%
+3.58%		 $1,033.81
 
 
Saskatchewan
M/M %
Y/Y %		 $227,151
-4.94%
-1.15%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,125.72
 
 
Yukon
M/M %
Y/Y %		 $199,119
-42.24%
-26.21%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $986.80
 
 
CANADA
M/M %
Y/Y %		 $210,249
-6.69%
-21.43%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,041.96
 
 

Results by major city and the Greater Toronto Area

City Average mortgage value> Most popular amortization period Most popular rate type Most popular rate term Best Rate Monthly mortgage payment
Calgary
M/M %
Y/Y %		 $201,639
+18.43%
-33.04%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $999.29
 
 
Edmonton
M/M %
Y/Y %		 $256,005
-0.70%
-9.80%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,268.72
 
 
Halifax
M/M %
Y/Y %		 $218,668
+3.90%
-1.23%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,083.68
 
 
London
M/M %
Y/Y %		 $208,123
+3.41%
-10.54%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,031.42
 
 
Montreal
M/M %
Y/Y %		 $216,658
-4.27%
-17.69%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,073.72
 
 
Ottawa
M/M %
Y/Y %		 $250,182
+4.39%
+3.35%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,239.86
 
 
Quebec City
M/M %
Y/Y %		 $206,689
+14.86%
-12.75%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,024.31
 
 
Vancouver
M/M %
Y/Y %		 $197,609
-25.62%
-44.82%		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $979.32
 
 
Victoria
M/M %
Y/Y %		 $346,639
+12.22%
+11.26		 25 Years
 
 		 Closed Fixed
 
 		 5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,717.88
 
 
Winnipeg
M/M %
Y/Y %		 $126,619
-32.43%
-41.82		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $627.50
 
 
TOTAL GTA
M/M %
Y/Y %		 $210,737
-4.63%
-26.78%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,044.37
 
 
Toronto
M/M %
Y/Y %		 $192,318
-3.49%
-36.26%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $953.09
 
 
Ajax
M/M %
Y/Y %		 $293,242
+16.32%
+3.93%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,453.26
 
 
Aurora
M/M %
Y/Y %		 $348,597
+54.16%
+26.94%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,727.59
 
 
Brampton
M/M %
Y/Y %		 $285,106
+15.78%
+10.85%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,412.94
 
 
Burlington
M/M %
Y/Y %		 $277,182
+1.63%
+22.07%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,373.67
 
 
Etobicoke
M/M %
Y/Y %		 $307,166
+0.02%
+9.02%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,522.26
 
 
Markham
M/M %
Y/Y %		 $285,617
-2.55%
-0.17%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,415.47
 
 
Milton
M/M %
Y/Y %		 $267,699
-14.76%
-11.43%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,326.67
 
 
Mississauga
M/M %
Y/Y %		 $268,958
-0.85%
-0.22%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,332.91
 
 
Newmarket
M/M %
Y/Y %		 $260,971
-2.92%
-7.49%		 25 Years
 
 		 Closed Variable
 
  		5 Years
 
 		 2.05%
+0.00%
-27.14%		 $1,037.07
 
 
North York
M/M %
Y/Y %		 $301,429
+8.92%
+8.19%		 25 Years
 
 		 Closed Variable
 
  		5 Years
 
 		 2.05%
+0.00%
-27.50%		 $1,197.84
 
 
Oakville
M/M %
Y/Y %		 $315,205
-2.99%
+10.33%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,562.10
 
 
Oshawa
M/M %
Y/Y %		 $179,499
-14.59%
-27.29%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $889.57
 
 
Richmond Hill
M/M %
Y/Y %		 $274,162
+6.58%
-13.47%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,358.70
 
 
Scarborough
M/M %
Y/Y %		 $215,621
-5.23%
-9.54%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,068.58
 
 
Stouffville
M/M %
Y/Y %		 $256,243
-3.22%
-4.81		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,269.90
 
 
Vaughan
M/M %
Y/Y %		 $277,905
-4.15%
-19.72%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,133.43
 
 
Whitby
M/M %
Y/Y %		 $230,328
+2.30%
+9.35%		 25 Years
 
 		 Closed Fixed
 
  		5 Years
 
 		 3.43%
+4.26%
-4.19%		 $1,141.47