CMHC: Canadians work hard to ditch their mortgages early

Nov 30, 2011 - Canadian homeowners are doing a good job of paying off their mortgages early, says Canada Mortgage and Housing Corp., which released its third-quarter results Tuesday.

While mortgage repayments can be spread out over 30 years, CMHC reports the average amortization period for mortgages the national housing agency insures is under 25 years, and the loan-to-value ratio of those homes was 80% or less.

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Marlene Ofter

Marlene Ofter

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