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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


eXp Realty of Canada
Mario Daniel Sconza
4711 Yonge St 10th Floor
Toronto, ON M2N6K8
416-230-3476

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®.
Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2021 Last Updated April 17, 2021
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