CAAMP Fall Mortgage Report: Highlights

Each year the Canadian Association of Accredited Mortgage Professionals (CAAMP) puts out an annual report on the mortgage report, the ‘Annual State of the Residential Mortgage Market in Canada’ report came out earlier this week. While the report is full of valuable information and insights on the mortgage market in Canada, I’ve compiled a list of the highlights: Mortgage Market There are currently 9.62 million homeowners in Canada 5.64 million homeowners in Canada have a mortgage 49% of the home purchases this year were made by first-time homebuyers Interest Rates 2.89% was the average interest rate for homeowners this year 78% of mortgage renewals saw…