Home Financing Choices of Canadians
As part of this year’s survey, we asked a series of new questions to help mortgage professionals, the housing industry and Canadians better understand the ever-changing mortgage landscape. Here are the key facts you need to know.
We have the data, and now you can too.
Download the Home Financing Choice of Canadians infographic.
- Most homebuyers and refinancers obtained a mortgage loan only, a fixed interest rate, a 5-year renewal term and 25-year amortization period.
- 48% of all mortgage consumers would consider a longer renewal term at a fixed interest rate.
- Of those impacted by the mortgage qualification rule changes, the main way it caused them to review their purchase plan was to decrease non-essential expenses.
- Of all respondents with a HELOC, the main way they plan to use their HELOC is as a safety net or emergency fund.