A recent report by the Canadian Association of Accredited Mortgage Professionals revealed that most Canadians feel comfortable about the mortgage they have and are working on paying it off faster. With all of the uproar in the mortgage industry below us in the States, it's comforting to know that Canada is remaining strong and is in fact doing extremely well in the mortgage department.

Canadians with home loans are making increasing efforts to pay off their loans sooner. Approximately 19% are contributing extra payments in a lump sum, 23% are increasing their scheduled payments, and 10% are choosing both of these options. Recent borrowers are anticipating that their amortization period will be 20% less than the length contracted,

Right now, Canadians are focusing on building up equity in their homes. A whopping 83% of Canadians that are making mortgage payments have built up at least 25% equity in their property.  People across the nation are building up security for the future by investing their extra money back into their homes.

About 74% of the mortgage borrowers across Canada that have recently renewed their contract have seen a decrease of half a percentage point. This can only help increase mortgage confidence even more.

In 2011 the interest rate for the average mortgage was down from 4.04% in 2010 to 3.64%. The average homeowner that has purchased a home recently has paid a 3.48% interest rate on average.

When examining Canadian mortgages across the board, 29% carry a mortgage with a variable rate, 65% have a fixed-rate and 7% have a combination of the two.

This report indicates that confidence in mortgages is increasing in this nation with more and more people paying off their mortgages faster. When combined with recent reports of the healthy Calgary real estate housing market, it means that buying a home now is more important than ever. With a renewed sense of confidence, housing and financing is only going to get stronger in Canada and in Calgary as well.

This report only supports the fact that we've known all along. Real estate isn’t only home ownership; it is a secure nest egg for the future that can be passed on from one generation to the next.