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Mortgage Statistics for Canada - December 2009

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Mortgage Statistics December 2009

Summary mortgage statistics for Canada - December 2009

Average mortgage value  $267,601
Average amortization period  25 years
Most common rate type  Closed Fixed
Most common rate term  5 years
Best 5 year variable closed  1.99%
Best 5 year fixed closed   3.58%

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


Geographical search breakdown

Alberta 12.6%
British Columbia 16.4%
Manitoba 3.2%
New Brunswick 1.3%
Newfoundland and Labrador 0.9%
Northwest Territories 0.1%
Nova scotia 1.8%
Nunavut 0.1%
Ontario 54.6%
Prince Edward Island 0.4%
Quebec 5.8%
Saskatchewan 2.6%
Yukon 0.1%


Rate Type breakdown

Not sure 5.5%
Closed fixed 53.2%
Closed variable 16.8%
Open fixed 4.9%
Open variable 9.6%
Total 100%


Rate Term breakdown

Fixed Closed (blank) 10.0%
Fixed Closed 6 Months 0.2%
Fixed Closed 1 Year 3.6%
Fixed Closed 2 Years 2.8%
Fixed Closed 3 Years 7.3%
Fixed Closed 4 Years 2.8%
Fixed Closed 5 Years 61.0%
Fixed Closed 6 Years 0.8%
Fixed Closed 7 Years 1.9%
Fixed Closed 8 Years 0.4%
Fixed Closed 9 Years 0.2%
Fixed Closed 10 Years 5.2%
Fixed Closed 15 Years 1.0%
Fixed Closed 25 Years 3.0%
Total 100.2%
Variable Closed (blank) 44.0%
Variable Closed 1 Years 0.1%
Variable Closed 3 Years 11.6%
Variable Closed 4 Years 1.9%
Variable Closed 5 Years 42.2%
Variable Closed 10 Years 0.1%
Total 99.9%
Fixed Open (blank) 38.7%
Fixed Open 6 Months 1.6%
Fixed Open 1 Year 5.5%
Fixed Open 2 Years 4.3%
Fixed Open 3 Years 42.8%
Fixed Open 4 Years 0.2%
Fixed Open 5 Years 6.3%
Fixed Open 10 Years 0.2%
Fixed Open 15 Years 0.1%
Fixed Open 25 Years 0.2%
Total 99.9%
Variable Open (blank) 39.6%
Variable Open 6 Months 0.1%
Variable Open 1 Year 0.3%
Variable Open 2 Years 0.1%
Variable Open 3 Years 14.9%
Variable Open 4 Years 0.1%
Variable Open 5 Years 44.9%
Variable Open 10 Years 0.1%
Total 100.1%

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 %		 $295,841
+4.09%
+2.16%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,489.57
 
 
British Columbia
M/M %
Y/Y %		 $301,784
+2.00%
-3.36%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,519.49
 
 
Manitoba
M/M %
Y/Y %		 $224,208
+18.47%
-23.72%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,128.89
 
 
New Brunswick
M/M %
Y/Y %		 $173,947
-31.49%
-45.00%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $875.83
 
 
Newfoundland and Labrador
M/M %
Y/Y %		 $166,380
-17.44%
-48.20%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $837.73
 
 
Northwest Territories
M/M %
Y/Y %		 $262,920
-19.57%
-21.74%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,323.81
 
 
Nova scotia
M/M %
Y/Y %		 $207,210
+5.17%
-34.93%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,043.31
 
 
Nunavut
M/M %
Y/Y %		 $328,276
-11.59%
-2.31%		 25 Years
 
 		 Closed Fixed
 
 		 10 years
 
 		 5.19%
+0.00%
-12.03%		 $1,944.93
 
 
Ontario
M/M %
Y/Y %		 $264,431
+2.88%
-0.12%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,331.42
 
 
Prince Edward Island
M/M %
Y/Y %		 $178,152
-28.85%
-46.16%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $897.00
 
 
Quebec
M/M %
Y/Y %		 $241,290
+3.64%
-17.72%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,214.90
 
 
Saskatchewan
M/M %
Y/Y %		 $229,789
-4.51%
-27.92%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,156.99
 
 
Yukon
M/M %
Y/Y %		 $269,836
-4.85%
-21.53%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,358.63
 
 
CANADA
M/M %
Y/Y %		 $267,601
+3.12%
-8.51%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,347.38
 
 

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 %		 $301,142
+5.82%
+8.57%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,516.26
 
 
Edmonton
M/M %
Y/Y %		 $283,814
+12.40%
+21.55%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,429.01
 
 
Halifax
M/M %
Y/Y %		 $221,389
+3.15%
-6.22%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,114.70
 
 
London
M/M %
Y/Y %		 $232,631
+11.27%
+23.24%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,171.30
 
 
Montreal
M/M %
Y/Y %		 $263,216
+2.29%
+1.53%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,325.29
 
 
Ottawa
M/M %
Y/Y %		 $242,076
+0.62%
+4.03%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,218.86
 
 
Vancouver
M/M %
Y/Y %		 $358,102
+2.96%
+0.13%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,803.05
 
 
Victoria
M/M %
Y/Y %		 $311,570
-16.93%
-2.96		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,568.76
 
 
Winnipeg
M/M %
Y/Y %		 $217,632
+21.20%
+29.09		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 1.99%
-0.50%
-43.14%		 $920.52
 
 
TOTAL GTA
M/M %
Y/Y %		 $287,809
+3.28%
+9.79%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,449.12
 
 
Toronto
M/M %
Y/Y %		 $301,713
+8.76%
+9.74%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,519.13
 
 
Ajax
M/M %
Y/Y %		 $282,156
+8.69%
+0.66%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,420.66
 
 
Aurora
M/M %
Y/Y %		 $274,618
-29.77%
-7.75%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,382.71
 
 
Brampton
M/M %
Y/Y %		 $257,198
+0.74%
+0.13%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,295.00
 
 
Burlington
M/M %
Y/Y %		 $227,071
-16.79%
-3.13%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,143.31
 
 
Etobicoke
M/M %
Y/Y %		 $281,748
-2.35%
+12.19%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 1.99%
-0.50%
-43.14%		 $1,191.71
 
 
Markham
M/M %
Y/Y %		 $286,110
+1.11%
+8.57%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,440.57
 
 
Milton
M/M %
Y/Y %		 $302,255
-10.11%
+7.82%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,521.86
 
 
Mississauga
M/M %
Y/Y %		 $269,560
-2.08%
+4.04%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,357.24
 
 
Newmarket
M/M %
Y/Y %		 $282,100
+6.83%
+60.18%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,420.38
 
 
North York
M/M %
Y/Y %		 $278,598
-14.13%
+2.40%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,402.75
 
 
Oakville
M/M %
Y/Y %		 $285,699
-1.14%
+16.41%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,438.50
 
 
Oshawa
M/M %
Y/Y %		 $246,865
+7.93%
+30.96%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,242.97
 
 
Pickering
M/M %
Y/Y %		 $241,741
-10.01%
+20.81		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,217.17
 
 
Richmond Hill
M/M %
Y/Y %		 $316,832
+2.69%
+17.21%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,595.26
 
 
Scarborough
M/M %
Y/Y %		 $238,368
-1.53%
+3.52%		 25 Years
 
 		 Closed Variable
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,200.19
 
 
Stouffville
M/M %
Y/Y %		 $269,196
-6.54%
+7.70		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,355.41
 
 
Vaughan
M/M %
Y/Y %		 $346,176
+24.69%
+15.80%		 25 Years
 
 		 Closed Variable
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,743.00
 
 
Whitby
M/M %
Y/Y %		 $210,636
-20.10%
-14.11%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.58%
-6.77%
-28.26%		 $1,060.56