Monday, May 3, 2010

Mortgage Consumers are Confident with Homeowership, say CMHC

A recent report by the Canada Mortgage and Housing Corporation (CMHC) reveals some confident consumer attitudes towards homeownership. A large majority of recent homebuyers (92%) agree that homeownership is a good long-term investment and 77% agree that now is a good time to purchase a home.

The survey results show that consumers are confident about their mortgage debt, with 81% of homebuyers indicating that they are quite comfortable with their current level of mortgage debt. Recent homebuyers are also positive about their financial stability. Four in five (80%) are comfortable that their financial situation will be stable over the course of the next year, and 91% indicated that their income level should remain stable or grow over the next several years.


Source: Canada Mortgage and Housing Corporation 2010 Mortgage Consumer Survey, April 2010.

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