Mortgage Statistics Canada
Size of Canadian Residential Mortgage Market
| 2011 | 2010 |
2009 | 2008 | 2007 | 2006 | |
| Outstanding Residential Mortgage Credit in Canada |
$1,079B | $1,010B |
$940B |
$664B | $787B | $687B |
| Average mortgage size | $146K | $131K | $127K | $164K | $127K |
Source: CAAMP Annual State of the Residential Mortgage Market 2006-2011
Mortgage Activity in last 12 months
| 2011 | 2010 |
2009 | 2008 | 2007 | 2006 | |
| New mortgage on a new property | 9% | 5% |
N/A |
6% | 11% | N/A |
| New mortgage on an existing property | 1% |
N/A | 1% | 6% | N/A | |
| Mortgage renewal | 8% | 16% |
N/A |
15% | 14% | N/A |
| Mortgage refinance | 15% | 8% |
N/A | 6% | 4% | N/A |
| Total | 32% | 31% | 27% | 29% | 34% | 31% |
Source: CAAMP Annual State of the Residential Mortgage Market 2006-2011
Canadian Mortgages by Type
| 2011 | 2010 |
2009 | 2008 | 2007 | 2006 | |
| % of fixed mortgages |
60% | 66% |
68% |
66% | 72% | 66% |
| % of variable mortgages |
31% | 29% |
27% | 27% | 21% | 22% |
| % of combination |
9% | 4% |
6% | 7% | 7% | 11% |
| Total (sums may be off due to rounding) | 100% | 100% |
100% | 100% | 100% | 100% |
Source: CAAMP Annual State of the Residential Mortgage Market 2006-2011
Canadian Mortgages by Term
| 2011 | 2010 |
2009 | 2008 | 2007 | 2006 | |
| 1 year or less |
N/A | 6% |
10% |
9% | 12% | 10% |
| 1-2 years |
N/A | 7% |
5% | 5% | 9% | 7% |
| 2-3 years |
N/A | 7% |
7% | 10% | 11% | 11% |
| 3-4 years |
N/A | 6% |
5% | 5% | 7% | 7% |
| 4-5 years | N/A | 66% | 62% | 61% | 52% | 51% |
| 5-10 years | N/A | 7% | 8% | 7% | 8% | 12% |
| More than 10 years | N/A | 1% | 4% | 3% | 1% | 1% |
| Total | N/A | 100% |
100% |
100% | 100% | 100% |
Source: CAAMP Annual State of the Residential Mortgage Market 2006-2011
Canadian Mortgages by amortization period
| 2011 | 2010 |
2009 | 2008 | 2007 | 2006 | |
| Up to 25 years |
78% | 78% |
82% |
84% | 91% | N/A |
| More than 25 years |
22% | 22% |
18% | 16% | 9% | N/A |
| Including... | ||||||
| 30 years |
9% | 8% |
7% |
5% | 5% | N/A |
| 35 years | 8% | 8% | 6% | 4% | 2% | N/A |
| 40 years | 5% | 6% | 4% | 6% | 2% | N/A |
Source: CAAMP Annual State of the Residential Mortgage Market 2006-2011
Percent of Mortgage holders who use pre-payment options
| 2011 | 2010 |
2009 | 2008 | 2007 | 2006 | |
| Increase monthly payment |
16% | 16% |
N/A | N/A | N/A | N/A |
| Use lump sum option |
17% | 12% |
N/A | N/A | N/A | N/A |
| Increased frequency of payment | 5% | |||||
| Increase monthly payment and make lump sum |
7% |
N/A | N/A | N/A | N/A | |
| Completed more than one activity | (-6%) | |||||
| Total | 32% | 35% | N/A | N/A | N/A | N/A |
Source: CAAMP Annual State of the Residential Mortgage Market 2006-2011