The State of the Mortgage Market in 2020

Mortgage Professionals Canada has released its latest State of the Mortgage Market report today, which is chock full of new stats and insights into the Canadian mortgage market.

Despite regular headlines about rising home prices and overvaluation in the country’s largest centres, the report finds that Canadians continue to see homeownership as an important element of their long-term financial plans.

“Canadians have also remained prudent with their spending habits on housing, which is evidenced in today’s report,” notes author Will Dunning, Chief Economist of MPC. “For example, Canadians pay off their mortgages much quicker than their original amortization, and each year one in three borrowers make some additional contribution to accelerate their repayment schedule.”

Equity Stream Financial Inc.