State of the Residential Mortgage Market

Earlier this week, CAAMP (Canadian Association of Accredited Mortgage Professionals) released thier annual State of the Residential Mortgage Market report. The report contains valuable information that paints a picture about the residential real estate market, and mortgage market in our country. Below are some of the highlights from this report. 82% of new mortgage holders had fixed rates 2% of new mortgage holders put less than 20% for a down payment 40% of new mortgages this year came through a mortage broker 57% of new mortgage holders are first-time buyers this year 70% of mortage holders also have 25% (or higher) equity 68% of mortgage…