According to a new study released by Scotiabank, 37% of mortgage holders in Canada are less than 10 years away from mortgage freedom. Even better news, 68% of mortgage holders in Canada have already taken steps to pay down their mortgage faster.
Whether the reasoning be more disposable income, the goal of being debt-free or saving for retirement, 80% of those surveyed say being mortgage-free is important to them. Over 50% of the mortgage holders surveyed also stated that they were able to make additional payments on their mortgage, and it’s an option that mortgage holders should consider if they are able to.
If you want to explore your options for paying down your mortgage sooner, please feel free to contact me anytime, and you can also tweet me if that’s easier. If you’re interested in seeing more statistics and findings from this survey, click here.
