1. There are approximately 13,320,610 (Thirteen million three hundred twenty thousand six hundred ten) households in Canada.
2. Around 32,856,975 (Thirty-two million eight hundredfifty-six thousand nine hundred seventy-five) Canadians live in these households. That is an average of 2.5 people per household.
3. Out of these 13,320,610 households:
7,329,150 (Seven million three hundred twenty-nine thousand one hundred fifty) are Single-Detached houses
1,234,770 (One million two hundred thirty-four thousand seven hundred seventy) are apartments with five or more storeys
183,510 (One hundred eighty-three thousand five hundred ten) are movable dwellings (such as mobile homes)
4,573,185 (Four million five hundred seventy-three thousand one hundredeighty-five) are other dwellings such as semi-detached houses, rowhouses, apartments that have fewer than five storeys
4. In 2008, out of 13 million households in Canada, 65% owned a home. Out of this 65% (which equates to be around 8.45 million households), 57% had a mortgage and 43% were mortgage-free.
This means there are around 4.81 million households with mortgages in Canada.
5. Mortgage debt grew significantly in past decades. This is a quick look of how mortgage debt grew:
|In 1980s||In 2000s|
|Mortgage debt was around $100 billion||Mortgage debt was around $990 billion|
|Average house price was around $70,000||Average house price was around $300,000|
|Average mortgage loan was around $40,000||Average mortgage loan was around $170,000|
6. According to CAAMP Annual State ofthe Residential Mortgage Market 2006-2011, the outstanding residential mortgage debt in Canada was $1,190 Billion.
7. Out of all mortgages in Canada, around 60% of them are in a fixed mortgage term, making fixed mortgages most popular in the country. 31% of them are in a variable and adjustable mortgage terms.
8. 22% of Canadian mortgages have amortization periods of 25 years or more.
9. The average interest rate a Canadian is paying towards a mortgage is 3.55%.
10. The rates that are publicly advertised by the banks are called "posted rates". When banks give lower than their posted rates through discounts are called "discounted rates".
In 2012, the average 5 year fixed "posted" mortgage rate was 5.28%. Discounted rates averaged 3.43%. That means an average discount received by Canadians is 1.85%.
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