CMHC released its annual Mortgage Consumer Survey today, which unveils the home buying and mortgage behaviours of Canadians. It’s worthwhile to note that this is the largest and most comprehensive survey of its kind in Canada, so the data is useful for real estate professionals, mortgage brokers and the public alike.
Some highlights from this year’s survey:
In March 2016, CMHC completed an online survey of 3,006 recent mortgage consumers, all prime household decision-makers who had undertaken a mortgage transaction in the past 12 months. Sixty-two percent had undergone a mortgage renewal, 18% had refinanced their mortgage, and 20% had purchased a home with mortgage financing (11% First-Time Buyers and 9% Repeat Buyers) [CMHC]
If you have questions about any of the information found in this survey, or about mortgages and home buying in general, please feel free to contact me.
