Genworth Financial Canada released a new mortgage-related survey on Tuesday.

Among other things, the study found that:

• 23% of mortgage holders have made a lump-sum pre-payment or accelerated their mortgage payments in the last 12 months. 

  The first thing we thought of when reading this was that it’s a wonder more people don’t take low-frills mortgages (those with 5-10% annual pre-payment privileges). Most people have the best intentions of making pre-payments, but relatively few actually do. As a result, many needlessly overpay for large pre-payment privileges in the form of higher mortgage rates.
   

• 22% of recent and intended home buyers say they got pre-approved in the last year.

  This figure seems ultra low. Pre-approvals/Rate Holds are a no-risk option. They protect people against rising rates and, in some cases, establish qualification in advance of a home purchase. Interestingly, there have been other studies showing as many as 91% of first-time home buyers get pre-approved (See: More Buyers Get Pre-Approved).
   

• 49% of homeowners made down payments of 20% or more on their most recent home purchase.

  This seems about right. Earlier this year, CMHC found that 42% of prospective home buyers planned for at least a 20% down payment. (See: New Facts On Home Buyers)
   

• 59% of Canadians claim to pay their credit cards in full each month.

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This data was collected between March 4-10, 2010 from 2,001 respondents by Environics Research Group on behalf of Genworth Financial Canada. CMT comments in italics. Here’s more…