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Homeowners are in the best shape when it comes to financial fitness in Canada, says a new survey. Sixty-five per cent of homeowners pay off their credit card balances each month (vs. 48 per cent of non-homeowners). A quarter of homeowners with mortgages have made a lump sum payment or accelerated their mortgage payments in the past year, according to the survey. It was sponsored by Genworth Financial Mortgage Insurance Company Canada.

Almost half of homeowners were able to pay all of their bills and save some money in the past year, suggesting a strong correlation between homeownership and financial fitness, the company says.

“Homeownership is an achievable goal for those who are prepared,” says Peter Vukanovich, president and COO Genworth Financial Canada. “Homeownership helps people focus on their financial situation and get their fiscal house in order.”

The Financial Fitness survey was conducted in conjunction with the Canadian Association of Credit Counselling Services (CACCS). Compared to the same survey undertaken in 2007 when the economy was booming, Canadians are even more likely now to say their financial fitness is good (55 per cent vs. 50 per cent).

Other findings of the survey:

• 49 per cent of homeowners made down payments of 20 per cent or more on their purchase;

• 13 per cent of homeowners say they are in great financial shape;