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Mortgage Statistics for Canada - January 2010

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Mortgage Statistics January 2010

Summary mortgage statistics for Canada - January 2010

Average mortgage value  $260,652
Average amortization period  25 years
Most common rate type  Closed Fixed
Most common rate term  5 years
Best 5 year variable closed  1.95%
Best 5 year fixed closed   3.56%

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


Geographical search breakdown

Alberta 11.0%
British Columbia 17.0%
Manitoba 2.4%
New Brunswick 1.3%
Newfoundland and Labrador 0.8%
Northwest Territories 0.0%
Nova scotia 1.9%
Nunavut 0.0%
Ontario 57.2%
Prince Edward Island 0.3%
Quebec 5.6%
Saskatchewan 2.3%
Yukon 0.1%


Rate Type breakdown

Not sure 17.1%
Closed fixed 52.8%
Closed variable 14.8%
Open fixed 5.8%
Open variable 9.5%
Total 100%


Rate Term breakdown

Fixed Closed (blank) 10.6%
Fixed Closed (6 Months) 0.3%
Fixed Closed (1 Year) 3.3%
Fixed Closed (2 Years) 3.0%
Fixed Closed (3 Years 7.5%
Fixed Closed (4 Years) 2.8%
Fixed Closed (5 Years) 60.4%
Fixed Closed (6 Years) 0.6%
Fixed Closed (7 Years) 1.7%
Fixed Closed (8 Years) 0.5%
Fixed Closed (9 Years) 0.2%
Fixed Closed (10 Years) 4.9%
Fixed Closed (15 Years) 1.1%
Fixed Closed (25 Years) 3.0%
Total 99.9%
Variable Closed (blank) 38.0%
Variable Closed (1 Year) 2.0%
Variable Closed (2 Years) 0.1%
Variable Closed (3 Years) 9.8%
Variable Closed (4 Years) 1.6%
Variable Closed (5 Years) 48.4%
Total 99.9%
Fixed Open (blank) 37.6%
Fixed Open (6 Months) 2.4%
Fixed Open (1 Year) 6.3%
Fixed Open (2 Years) 3.8%
Fixed Open (3 Years) 42.6%
Fixed Open (4 Years) 0.2%
Fixed Open (5 Years) 6.3%
Fixed Open (10 Years) 0.3%
Fixed Open (15 Years) 0.1%
Fixed Open (25 Years) 0.1%
Total 99.9%
Variable Open(blank) 37.6%
Variable Open (6 Months) 0.1%
Variable Open(1 Year) 0.3%
Variable Open (2 Years) 0.1%
Variable Open (3 Years) 16.2%
Variable Open (4 Years) 0.1%
Variable Open (5 Years) 45.6%
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 %		 $287,447
-2.84%
-1.21%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,444.26
 
 
British Columbia
M/M %
Y/Y %		 $301,353
-0.14%
+0.98%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,514.13
 
 
Manitoba
M/M %
Y/Y %		 $205,489
-8.35%
-31.51%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,032.46
 
 
New Brunswick
M/M %
Y/Y %		 $164,170
-5.62%
-48.92%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $824.86
 
 
Newfoundland and Labrador
M/M %
Y/Y %		 $169,734
+2.02%
-48.01%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $852.82
 
 
Northwest Territories
M/M %
Y/Y %		 $286,435
+8.94%
-15.36%		 25 Years
 
 		 Closed Fixed
 
 		 10 years
 
 		 5.19%
+0.00%
-12.03%		 $1,697.04
 
 
Nova scotia
M/M %
Y/Y %		 $183,162
-11.61%
-39.81%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $920.28
 
 
Nunavut
M/M %
Y/Y %		 $251,800
-23.30%
-25.22%		 10 Years
 
 		 Open Variable
 
 		 5 years
 
 		 2.85%
+0.00%
-18.57%		 $2,412.06
 
 
Ontario
M/M %
Y/Y %		 $257,527
-2.61%
-3.47%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,293.92
 
 
Prince Edward Island
M/M %
Y/Y %		 $161,654
-9.26%
-51.45%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $812.22
 
 
Quebec
M/M %
Y/Y %		 $222,864
-7.64%
-21.46%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-16.04%		 $1,119.76
 
 
Saskatchewan
M/M %
Y/Y %		 $223,187
-2.87%
-27.61%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,121.39
 
 
Yukon
M/M %
Y/Y %		 $223,761
-17.08%
-36.47%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,124.27
 
 
CANADA
M/M %
Y/Y %		 $260,652
-2.60%
-9.78%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,309.63
 
 

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 %		 $298,334
-0.93%
+5.05%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,498.96
 
 
Edmonton
M/M %
Y/Y %		 $265,605
-6.42%
-0.62%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,334.51
 
 
Halifax
M/M %
Y/Y %		 $223,313
+0.87%
-6.18%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,122.02
 
 
London
M/M %
Y/Y %		 $224,941
-3.31%
-2.47%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,130.20
 
 
Montreal
M/M %
Y/Y %		 $240,379
-8.68%
+10.24%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,207.76
 
 
Ottawa
M/M %
Y/Y %		 $232,005
-4.16%
-1.73%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,165.69
 
 
Vancouver
M/M %
Y/Y %		 $345,982
-3.38%
+3.01%		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,738.36
 
 
Victoria
M/M %
Y/Y %		 $337,457
+8.31%
-23.61		 25 Years
 
 		 Closed Fixed
 
 		 5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,695.53
 
 
Winnipeg
M/M %
Y/Y %		 $209,072
-3.93%
+25.98		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,050.47
 
 
TOTAL GTA
M/M %
Y/Y %		 $284,656
-1.10%
+4.99%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,430.23
 
 
Toronto
M/M %
Y/Y %		 $298,644
-1.02%
+10.25%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,500.51
 
 
Ajax
M/M %
Y/Y %		 $247,247
-12.37%
-8.62%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,242.27
 
 
Aurora
M/M %
Y/Y %		 $301,096
+9.64%
+3.64%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,512.83
 
 
Brampton
M/M %
Y/Y %		 $250,873
-2.46%
-8.80%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,260.49
 
 
Burlington
M/M %
Y/Y %		 $236,941
+4.35%
-15.57%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,190.49
 
 
Etobicoke
M/M %
Y/Y %		 $246,895
-12.37%
+31.91%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,240.51
 
 
Markham
M/M %
Y/Y %		 $265,472
-7.21%
-8.72%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,333.84
 
 
Milton
M/M %
Y/Y %		 $277,837
-8.08%
-3.22%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,395.97
 
 
Mississauga
M/M %
Y/Y %		 $271,912
+0.87%
-2.40%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,366.20
 
 
Newmarket
M/M %
Y/Y %		 $245,128
-13.11%
+10.83%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,231.63
 
 
North York
M/M %
Y/Y %		 $292,292
+4.92%
+3.68%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,468.60
 
 
Oakville
M/M %
Y/Y %		 $321,906
+12.67%
+23.52%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,617.39
 
 
Oshawa
M/M %
Y/Y %		 $196,174
-20.53%
+15.31%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $985.66
 
 
Pickering
M/M %
Y/Y %		 $271,182
+12.18%
+54.05		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,362.53
 
 
Richmond Hill
M/M %
Y/Y %		 $313,474
-1.06%
+12.07%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,575.03
 
 
Scarborough
M/M %
Y/Y %		 $249,562
+4.70%
+15.06%		 25 Years
 
 		 Closed Variable
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,253.91
 
 
Stouffville
M/M %
Y/Y %		 $282,921
+5.10%
+5.87		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,421.52
 
 
Vaughan
M/M %
Y/Y %		 $297,272
-14.13%
+6.44%		 25 Years
 
 		 Closed Variable
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,493.62
 
 
Whitby
M/M %
Y/Y %		 $212,750
-1.00%
-16.27%		 25 Years
 
 		 Closed Fixed
 
  		5 years
 
 		 3.56%
-0.56%
-11.00%		 $1,068.95