CMHC Survey Provides Insight Into Mortgage Consumers

Canada Mortgage and Housing Corporation (CMHC) released today its annual Mortgage Consumer Survey. The largest and most comprehensive survey of its kind provides insights into the behaviours, attitudes and expectations of Canadians when acquiring, renewing or refinancing a mortgage.

“Understanding the way active Canadian mortgage consumers behave and what they are looking for allows mortgage professionals to provide better service and improve the overall customer experience” said Nathalie Fredette, Vice-President, Client Relationship Management.

Survey Highlights:

• Mortgage consumers are increasingly going mobile and turning to social media to gather mortgage information
• The use of social media to gather mortgage information is highest among firsttime buyers and with consumers using a broker to arrange their mortgage
• Consumers receiving advice on long-term mortgage strategies were almost two times more likely to totally agree they will recommend their mortgage professional to family and friends
• First time homebuyers are most likely to seek advice from family members and real estate agents
• Unforeseen costs are the most common cause for concern among first-time homebuyers

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