RateSupermarket.ca mortgage statistics - September 2009

You can find the latest mortgage rate statistics from RateSupermarket.ca compiled by analyzing our online mortgage rate searches over the past month. In some tables we have also included information complied from previous months results.

Download September's Consumer report as a PDF.

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2008

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Summary mortgage statistics for Canada - September 2009

RateSupermarket.ca has compiled the following data for educational and informational purposes as outlined in our privacy policy. All names, street and e-mail addresses, telephone numbers, dates of birth, and other forms of identification have been removed before the following data was compiled. These statistics are anonymous and contain no personal information.

Average mortgage value

$271,745

Average amortization period

25 years

Most common rate type

Closed Fixed

Most common rate term

5 years

Best 5 year variable closed

2.15%

Best 5 year fixed closed

3.71%

Average mortgage value for Canada

Month

Average Mortgage Value

September-08

$266,834

October-08

$271,451

November-08

$300,643

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

Best 5 year Fixed Closed

Month	Rate
December-08	4.99%
January-09	4.00%
February-09	3.92%
March-09	3.80%
April-09	3.59%
May-09	3.54%
June-09	3.50%
July-09	4.12%
August-09	3.89%
September-09	3.71%

Best 5 year Variable Closed

Month	Rate
December-08	3.50%
January-09	3.00%
February-09	3.45%
March-09	2.50%
April-09	2.25%
May-09	2.65%
June-09	2.55%
July-09	2.50%
August-09	2.40%
September-09	2.15%

Geographical search breakdown

Province	% Of Searches
Alberta	10.9%
British Columbia	12.9%
Manitoba	1.8%
New Brunswick	3.9%
Newfoundland and Labrador	0.8%
Northwest Territories	0.2%
Nova scotia	1.9%
Nunavut	3.3%
Ontario	56.0%
Prince Edward Island	0.5%
Quebec	5.8%
Saskatchewan	1.7%
Yukon	0.3%

Rate Type breakdown

Rate Type	% Of Searches
Not sure	13.4%
Closed fixed	55.2%
Closed variable	13.4%
Open fixed	4.8%
Open variable	13.2%
Total	100%

Rate Term breakdown

Rate Type	Rate Term	% of searches
Fixed Closed	(blank)	9.8%
Fixed Closed	6 Months	0.3%
Fixed Closed	1 Year	6.5%
Fixed Closed	2 Years	5.9%
Fixed Closed	3 Years	5.1%
Fixed Closed	4 Years	4.3%
Fixed Closed	5 Years	55.4%
Fixed Closed	6 Years	0.6%
Fixed Closed	7 Years	1.0%
Fixed Closed	8 Years	0.3%
Fixed Closed	9 Years	0.1%
Fixed Closed	10 Years	7.2%
Fixed Closed	15 Years	0.6%
Fixed Closed	18 Years	0.2%
Fixed Closed	25 Years	2.6%
Total		99.9%
Variable Closed	(blank)	36.2%
Variable Closed	3 Years	6.3%
Variable Closed	4 Years	14.1%
Variable Closed	5 Years	43.3%
Total		99.9%
Fixed Open	(blank)	49.5%
Fixed Open	6 Months	1.4%
Fixed Open	1 Year	5.9%
Fixed Open	2 Years	3.7%
Fixed Open	3 Years	37.8%
Fixed Open	5 Years	1.1%
Fixed Open	10 Years	0.6%
Total		100.1%
Variable Open	(blank)	56.7%
Variable Open	3 Years	11.3%
Variable Open	5 Years	32.0%
Total		100.00%

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 %	$299,256 +4.87% +1.42%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,527.46
British Columbia M/M % Y/Y %	$298,160 -1.08% -3.65%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,521.86
Manitoba M/M % Y/Y %	$205,865 -14.57% +24.57%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,050.77
New Brunswick M/M % Y/Y %	$292,832 +6.13% +101.34%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,494.67
Newfoundland and Labrador M/M % Y/Y %	$209,542 -29.29% +13.24%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,069.54
Northwest Territories M/M % Y/Y %	$339,946 +1.45% +70.85%	25 Years	Closed Fixed	2 years	2.65% -1.85% N/A	$1,548.35
Nova scotia M/M % Y/Y %	$212,902 -16.26% +18.23%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,086.69
Nunavut M/M % Y/Y %	$345,728 -16.26% +18.23%	25 Years	Closed Fixed	10 years	5.17% -0.39% N/A	$2,044.36
Ontario M/M % Y/Y %	$264,901 -8.36% -2.21%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,352.10
Prince Edward Island M/M % Y/Y %	$233,669 -26.00% +25.42%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,192.69
Quebec M/M % Y/Y %	$230,505 -9.21% -1.46%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,192.23
Saskatchewan M/M % Y/Y %	$230,505 -14.47% +10.14%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,176.54
Yukon M/M % Y/Y %	$281,066 -19.21% +86.82%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,434.61
CANADA M/M % Y/Y %	$271,745 -5.52% +1.84%	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,387.04

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 %	$306,672 +6.29% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,565.31
Edmonton M/M % Y/Y %	$257,186 +5.12% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,312.72
Halifax M/M % Y/Y %	$208,977 +15.23% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,066.66
London M/M % Y/Y %	$210,216 +11.45% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,072.98
Montreal M/M % Y/Y %	$263,136 +2.61% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,343.09
Ottawa M/M % Y/Y %	$265,256 +14.27% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,353.91
Vancouver M/M % Y/Y %	$349,027 -2.97% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,781.49
Victoria M/M % Y/Y %	$328,214 -3.33% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,675.26
Winnipeg M/M % Y/Y %	$182,323 +15.37% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$930.61
TOTAL GTA M/M % Y/Y %	$286,385 -0.72% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,461.76
Toronto M/M % Y/Y %	$296,114 +0.77% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,511.42
Ajax M/M % Y/Y %	$241,668 -19.42% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,233.52
Aurora M/M % Y/Y %	$393,166 +20.01% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$2,006.79
Brampton M/M % Y/Y %	$271,097 +9.77% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,383.73
Burlington M/M % Y/Y %	$273,470 +12.58% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,395.84
Etobicoke M/M % Y/Y %	$314,379 -1.61% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,604.65
King M/M % Y/Y %	$326,737 -67.33% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,667.73
Markham M/M % Y/Y %	$281,407 +5.97% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,436.35
Milton M/M % Y/Y %	$292,477 +6.68% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,492.86
Mississauga M/M % Y/Y %	$276,092 -3.43% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,409.22
Newmarket M/M % Y/Y %	$267,982 +12.02% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,367.83
North York M/M % Y/Y %	$276,345 +9.47% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,410.52
Oakville M/M % Y/Y %	$307,187 -0.56% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,567.94
Oshawa M/M % Y/Y %	$189,130 +0.81% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$965.35
Pickering M/M % Y/Y %	$264,519 +0.58% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,350.15
Richmond Hill M/M % Y/Y %	$303,419 +4.35% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,548.71
Scarborough M/M % Y/Y %	$224,850 -42.41% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,147.68
Vaughan M/M % Y/Y %	$331,587 -2.82% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,692.48
Whitby M/M % Y/Y %	$310,907 +14.90% N/A	25 Years	Closed Fixed	5 years	3.71% -4.63% N/A	$1,586.93

Please note:

The statistics gathered are from www.RateSupermarket.ca and do not include inquiries via fax, e-mail or walk-ins. The statistics gathered represent the growing Internet usage and mortgage trends found within Canada. All information, charts and graphs represented are deemed accurate and reliable but no warranty or guarantee is implied. Data may be noticeably affected from time to time by changes in RateSupermarket.ca marketing efforts. Data may also be affected by Internet connectivity, outages and service (or lack of) to areas within Canada. The range of data collected is from 50,000 to 100,000 mortgage searches from across Canada.

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Source: RateSupermarket.ca Inc, (month/year of publication issue).

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