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Mortgage Statistics for Canada - January 2009

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Mortgage Statistics January 2009

Summary mortgage statistics for Canada - January 2009

Average mortgage value $288,911
Average amortization period  25 years
Most common rate type  Closed Fixed
Most common rate term  5 years
Best 5 year variable closed 3.00%
Best 5 year fixed closed  4.00%

Average mortgage value for Canada

September-08 $266,834
October-08 $271,451
November-08 $300,643
December-08 $292,489
January-09 $288,911


Geographical search breakdown

Alberta 11.0%
British Columbia 8.9%
Manitoba 3.1%
New Brunswick 2.9%
Newfoundland and Labrador 2.7%
Northwest Territories 3.2%
Nova scotia 3.2%
Nunavut 3.1%
Ontario 47.2%
Prince Edward Island 3.4%
Quebec 4.9%
Saskatchewan 4.3%
Yukon 2.1%


Rate Type breakdown

(blank) 11.2%
Closed fixed 68.3%
Closed variable 6.4%
Open fixed 2.6%
Open variable 11.5%
Total 100%


Rate Term breakdown

Fixed Closed (blank) 8.1%
Fixed Closed (6 Months) 0.1%
Fixed Closed (1 Year) 10.3%
Fixed Closed (2 Years) 9.5%
Fixed Closed (3 Years) 1.4%
Fixed Closed (4 Years) 1.9%
Fixed Closed (5 Years) 53.5%
Fixed Closed (6 Years) 0.3%
Fixed Closed (7 Years) 0.5%
Fixed Closed (8 Years) 0.1%
Fixed Closed (9 Years) 0.1%
Fixed Closed (10 Years) 12.6%
Fixed Closed (15 Years) 0.4%
Fixed Closed (18 Years) 0.2%
Fixed Closed (25 Years) 1.1%
Total 100.1%
Variable Closed (blank) 53.5%
Variable Closed (3 Years) 7.8%
Variable Closed (5 Years) 38.8%
Total 100.1%
Fixed Open (blank) 57.7%
Fixed Open (6 Months) 3.0%
Fixed Open (1 Year) 5.3%
Fixed Open (2 Years) 2.7%
Fixed Open (3 Years) 31.2%
Fixed Open (5 Years) 0.0%
Fixed Open (7 Years) 0.0%
Total 99.9%
Variable Open (blank) 73.7%
Variable Open (6 Months) 3.3%
Variable Open (1 Year) 0.0%
Variable Open (3 Years) 6.3%
Variable Open (5 Years) 16.7%
Total 100%

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 %		 $290,963
+0.48%
N/A		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 4.00%
-19.84%
N/A		 $1,530.52
 
 
British Columbia
M/M %
Y/Y %		 $298,435
-4.43%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,569.83
 
 
Manitoba
M/M %
Y/Y %		 $300,006
+2.07%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,578.09
 
 
New Brunswick
M/M %
Y/Y %		 $321,413
+1.63%
N/A		 25 Years
 
 		 Closed Fixed
 
  		10 years
 
 		 5.90%
+0.00%
N/A		 $2,037.36
 
 
Newfoundland and Labrador
M/M %
Y/Y %		 $326,498
+1.65%
N/A		 25 Years
 
 		 Closed Fixed
 
  		10 years
 
 		 5.90%
+0.00%
N/A		 $2,069.59
 
 
Northwest Territories
M/M %
Y/Y %		 $338,414
+0.73%
N/A		 25 Years
 
 		 Closed Fixed
 
  		10 years
 
 		 5.90%
+0.00%
N/A		 $2,145.12
 
 
Nova scotia
M/M %
Y/Y %		 $304,299
-4.45%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,600.67
 
 
Nunavut
M/M %
Y/Y %		 $336,739
+0.21%
N/A		 25 Years
 
 		 Closed Fixed
 
  		10 years
 
 		 5.90%
+0.00%
N/A		 $2,134.50
 
 
Ontario
M/M %
Y/Y %		 $266,791
+0.77%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,403.37
 
 
Prince Edward Island
M/M %
Y/Y %		 $332,950
+0.61%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,751.38
 
 
Quebec
M/M %
Y/Y %		 $283,763
-3.23%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.24%
-15.03%
N/A		 $1,529.80
 
 
Saskatchewan
M/M %
Y/Y %		 $308,324
-3.29%
N/A		 25 Years
 
 		 Closed Fixed
 
  		1 year
 
 		 3.50%
-22.05%
N/A		 $1,539.37
 
 
Yukon
M/M %
Y/Y %		 $352,199
+2.43%
N/A		 25 Years
 
 		 Closed Fixed
 
  		10 years
 
 		 5.90%
+0.00%
N/A		 $2,232.50
 
 
CANADA
M/M %
Y/Y %		 $288,911
-1.22%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,519.73
 
 

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 %		 $283,998
+2.39%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,493.89
 
 
Edmonton
M/M %
Y/Y %		 $267,255
+14.46%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,405.82
 
 
Halifax
M/M %
Y/Y %		 $238,029
+0.83%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,252.08
 
 
London
M/M %
Y/Y %		 $230,629
+22.18%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,213.16
 
 
Montreal
M/M %
Y/Y %		 $218,058
-15.89%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,147.03
 
 
Ottawa
M/M %
Y/Y %		 $236,097
+1.46%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,241.92
 
 
Vancouver
M/M %
Y/Y %		 $335,864
-6.09%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,766.71
 
 
Victoria
M/M %
Y/Y %		 $272,997
-14.98%
N/A		 25 Years
 
 		 Closed Variable
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,436.02
 
 
Winnipeg
M/M %
Y/Y %		 $165,956
-1.56%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $872.96
 
 
TOTAL GTA
M/M %
Y/Y %		 $271,137
+3.43%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,426.23
 
 
Toronto
M/M %
Y/Y %		 $270,874
-1.48%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,424.85
 
 
Ajax
M/M %
Y/Y %		 $270,583
-3.47%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,423.32
 
 
Aurora
M/M %
Y/Y %		 $290,520
-2.40%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,528.19
 
 
Brampton
M/M %
Y/Y %		 $275,071
+7.09%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,446.93
 
 
Burlington
M/M %
Y/Y %		 $280,652
+19.73%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,476.29
 
 
Etobicoke
M/M %
Y/Y %		 $187,170
-25.47%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $984.55
 
 
Markham
M/M %
Y/Y %		 $290,842
+10.37%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,529.89
 
 
Milton
M/M %
Y/Y %		 $287,088
+2.41%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,510.14
 
 
Mississauga
M/M %
Y/Y %		 $278,589
+7.52%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,465.43
 
 
Newmarket
M/M %
Y/Y %		 $221,178
+25.59%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,163.44
 
 
North York
M/M %
Y/Y %		 $281,911
+3.61%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,482.91
 
 
Oakville
M/M %
Y/Y %		 $260,605
+6.18%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,370.83
 
 
Oshawa
M/M %
Y/Y %		 $170,125
-9.75%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $894.89
 
 
Richmond Hill
M/M %
Y/Y %		 $279,713
+3.48%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,471.35
 
 
Scarborough
M/M %
Y/Y %		 $216,903
-5.80%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,140.95
 
 
Stouffville
M/M %
Y/Y %		 $267,244
+6.92%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,405.76
 
 
Vaughan
M/M %
Y/Y %		 $279,283
-6.58%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,469.09
 
 
Whitby
M/M %
Y/Y %		 $254,085
+3.60%
N/A		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 4.00%
-19.84%
N/A		 $1,336.54