11 May 2011
It should be noted that two years ago it was only 26%.
• 63% of all borrowers chose fixed rate mortgages, 30% – variable rate mortgages and 6% – a combination of both.
• 22% of all borrowers have amortization periods longer than 25 years.
• 34% of those borrowers who recently renewed their mortgages did refinance before their terms expired. It’s interesting that generally borrowers pay off their mortgages 7.4 years earlier than it’s necessary.
• During the last 12 months 200,000 homeowners paid off their mortgages.
• The average mortgage rate discount for those who got their five year fixed mortgages in the previous 12 months was 1.44%. It means that an average mortgage rate was 4.04%.
• 65% of borrowers who renewed their mortgages in the last twelve months are paying now lower rates.
• 66% of all mortgage borrowers can afford a monthly mortgage increase of $300 or more.
• 27% of borrowers who got their mortgages in the last 12 months obtained it from a mortgage broker.
• About 60% respondents thought now was a good time for a house purchase.
• 46% of respondents expect a real estate price increase.