Homeowners are in the best shape when it comes to financial fitness in Canada, suggests a survey sponsored by Genworth Financial Mortgage Insurance Company Canada.

According to the survey, 65% of homeowners pay off their credit card balances each month, compared with 48% of non-homeowners. Furthermore, a quarter of those homeowners with mortgages have managed to make a lump sum payment or accelerate their mortgage payments in the past year.

In addition 44% 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.

“Homeownership helps people focus on their financial situation and get their fiscal house in order,” says Peter Vukanovich, president and COO of Genworth Financial Canada.

The 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% vs. 50%).

The national telephone survey of 2000 Canadians with a subset of 1,444 homeowners was conducted between March 4-10, 2010 by Environics Research Group. A sample of this size produces results that can be considered accurate to within +/- 2.2 percentage points, 19 times out of 20.