What First-Time Homebuyers Look Like in 2014

Earlier this week, Canada Mortgage and Housing Corporation (CMHC) released the results of their 2014 First-Time Homebuyers Survey, giving us some insight into what the average first-time buyer looks like in Canada. The survey polled 860 first-time buyers from all across Canada, who had undertaken a mortgage transaction in the last 12 months. Some of the interesting takeaways from the survey are: 84% of first-time buyers researched their mortgage options online, and 40% specifically on social media 70% of first-time buyers were satisfied with their mortgage broker Only 49% of first-time buyers were contacted by their mortgage broker post-transaction Some of the alarming numbers that…