Canadian homeowners caught a modest break during the third quarter as mortgage costs receded slightly, reversing a two-quarter trend in which affordability decreased.

A new report from RBC Economics says the driving factor was low interest rates, which helped reduce fixed mortgage rates across the country.

As a result, the bank says it was more affordable for Canadians to own a standard condominium, two-storey home or detached bungalow in the third quarter, though not by much.

The following RBC statistics include the total mortgage, utility and property taxes incurred by Canadian homeowners:

Owning a condo cost 29 per cent of median pre-tax household income at the national level, a drop of 0.2 percentage points from the previous quarter.

A two-storey home also became cheaper to own, but still costing 48.8 per cent of household income. That was down by 0.6 percentage points.

Finally, a detached bungalow ate up 42.7 per cent of that same income, a decrease of 0.7 percentage points from the second quarter.

In terms of a regional picture, RBC says Vancouver remains the most expensive housing market in the country.

In a statement, RBC Chief Economist Craig Wright said the Vancouver-area has "sky-high property values in upscale neighbourhoods making it both extremely unaffordable and the most at risk of a downward correction."

On the other hand, RBC says Alberta is among the most affordable provinces in which to buy a two-storey home, detached bungalow or condo.

RBC also says that the Manitoba market "showed some of the more significant improvement in affordability among the provinces in the third quarter."

Daryl Harris, a Winnipeg-based mortgage professional with Verico One Link Mortgage and Financial, said he was surprised by the RBC report's analysis of the Manitoba market.

"Affordability generally follows one of two things, either lower rates or a decrease in house prices and I have seen neither in our market," Harris told CTVNews.ca in a telephone interview on Friday.

Looking ahead to 2012, RBC believes housing prices are unlikely to soar any time soon.

"We expect to see further slowing in the pace of home price increases next year, as housing demand levels out," said Wright.

"These factors will set the stage for a period of relative stability in affordability trends in Canada."