2013: Mortgage Year in Review

With rate changes, economic factors south of the border and natural disasters boosting home sales in Calgary, 2013 was a big year for mortgage headlines and news. Let’s take a look back at some of the biggest news and statistics from last year.

Statistics from 2013

• 2/3 of first-time homebuyers are under the age of 35 (CMHC)
• 65% of first-time homebuyers make $90,000 or less per year (CMHC)
• 76% of Canadians are confident with the size of their mortgage (CAAMP)
• 71% of Canadians think real estate will remain stable or grow over next 5 years (CAAMP)
• 40% of new mortgages this year came through a mortage broker (CAAMP)

News from 2013

“Five-year rates of 2.99% or less were the talk of the market in 2013. That is, until the U.S. economy accelerated, spooked the bond market and yields soared one point in four months.” (Canadian Mortgage News)

“The Finance Department decided to tighten its collar around housing even further. The goal: to brake housing’s momentum and reduce Ottawa’s exposure to mortgage risk.” (Canadian Mortgage News)

Canadian Mortgage News published a great blog today with even more news headlines from 2013, and links to the most popular stories from last year. You can view the article online here. If you have questions about mortgages, you can always contact me anytime, or follow me on Twitter.

Tags : CAAMP, calgary homebuying, calgary mortgage, calgary mortgage broker, calgary real estate, canadian mortgage, CMHC