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Mortgage Market In Canada

Wednesday, April 7, 2021   /   by Mario Daniel Sconza

Mortgage Market In Canada

Mortgage Professionals Canada’s Annual State of the Residential Mortgage Market in Canada report provided a detailed look at borrower behaviour and mortgage market trends in 2020.


The Mortgage Market:


  • 6.08 million: The number of homeowners with mortgages

  • 1.72 million: The number of Home Equity Line of Credit holders



Mortgage Types


  • 73% of mortgage holders with fixed-rate mortgages

  • Mortgages on homes purchased specifically in 2020, fixed-rate mortgages were chosen 77% of the time


Mortgage Sources


  • 55% of borrowers who took out a new mortgage in 2020 who obtained the mortgage through a Canadian bank

  • Up slightly from 54% in 2019

  • 31% of overall outstanding mortgages that were arranged by a mortgage broker this rises to 40% for mortgages obtained in 2020

  • 9% of borrowers who obtained their mortgage through a credit union