91% of first-time home buyers are getting pre-approved, according to TD Canada Trust’s 2010 Home Buyers Report.

That’s a big improvement from the 62% pre-approval rate reported in a similar 2007 BMO study.

Today’s home buyers seem to be more educated on the benefits of pre-approvals. They’re also more concerned that rising rates will put them at risk without a rate hold.

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Sidebar: Here are a few other notable points from TD’s report:

• 70% of first-time home buyers put, or plan to put, less than 20% down. 
• “Six-in-ten are worried about being able to afford their home if interest rates rise.”
• Almost three-quarters of home buyers surveyed “have or plan to have a fixed-rate mortgage.”