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Classified in: Business
Subject: SVY

CMHC survey provides insight into mortgage consumers


OTTAWA, Oct. 18, 2018 /CNW/ - Canada Mortgage and Housing Corporation (CMHC) released today its annual Mortgage Consumer Survey (MCS). The largest survey of its kind, the MCS has been conducted since 1999 and provides insight into the behaviours, attitudes and expectations of Canadians when they acquire, renew or refinance a mortgage.

Logo: Canada Mortgage and Housing Corporation (CNW Group/Canada Mortgage and Housing Corporation)

In April 2018, CMHC completed an online survey of 4,000 recent mortgage consumers, all prime household decision makers who had undertaken a mortgage transaction in the past 12 months. Sixty-eight percent had renewed their mortgage, 15% had refinanced their mortgage, and 16% had purchased a home with mortgage financing (9% first-time buyers and 7% repeat buyers). Total results were weighted to reflect the actual proportion of households in each region.

Survey Highlights:

Additional survey findings are available here.

CMHC helps Canadians meet their housing needs. As Canada's authority on housing, we contribute to the stability of the housing market and financial system, provide support for Canadians in housing need, and offer objective housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of our operations.

For more information, visit our website or follow us on Twitter, YouTube, LinkedIn and Facebook.

Quote:

"Shopping for a mortgage can be overwhelming so the more information you have, the better your experience. We've expanded our survey to give us greater detail on what Canadians want when looking for a mortgage and how they go about the process. We also now have more insight into important groups like millennials and first time buyers. Ultimately, our hope is to help Canadians get the most out of the mortgage shopping experience."

Carla Staresina
Vice-President, Client Relationship Management
Canada Mortgage and Housing Corporation

 

SOURCE Canada Mortgage and Housing Corporation


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