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Mortgage Statistics of 2013

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With home loans so easy to acquire these days, Canadians are increasingly going into buying homes that has lead to a $1.19 Trillion in mortgage debt divided among 9.32 Million home owners.

The average mortgage rates that were renewed in 2013 stood at 3.20% while the mortgage on homes purchased in 2013 stand at 3.23%. All the existing mortgage rates have dropped from 3.52% to 3.50%.

Broker popularity in 2013 increase 19% from 2012 where it stood at 31 %. Canadians have saved more than $2.5 Billion in home purchases with mortgage rate discounts and have also reportedly been paying off their mortgages sooner. But they have also spent a whopping $59 Billion in accessing home equity.

Categories : Economy Graphs, Graphs | Published by : infographics | Date : Dec 2, 2013
Tags: broker popularity, Home Equity, mortgage on homes, mortgage rate

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Source : http://www.ratehub.ca/mortgage-blog/2013/11/savers-spenders-2013-mortgage-stats-infographic/
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