The average Canadian homeowner owes $190,000 on their mortgage according to a new poll released today by Manulife Bank of Canada. Those in Alberta have an average of $242,300. The survey also shows that 40 per cent of homeowners made additional payments or increased existing ones to pay down their mortgage faster. The figures also warn that around a third of Canadians would struggle to meet mortgage payments within three months of the major household earner losing their job.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: