December 2009 Welcome to the December issue of CAAMP Stats. CAAMP recently released its fall annual report on the state of the residential mortgage market in Canada. For a copy of the report - click here For further information visit www.caamp.org
Source: RBC Financial Group Housing Affordability Index, November 2009. Index based on a 25% down payment and a 25 year mortgage loan at a five year fixed rate. The higher the index, the more difficult it is to afford a home. An affordability index of 50 means that homeownership costs including mortgage payments, utilities and property taxes take up half of a typical household's monthly pre-tax income.