Here’s some interesting mortgage stats from a recent CMHC survey:
- 50% of Canadians plan to pay down their mortgage if they come into extra money. Note: Only 34% do according to Manulife.
- According to the survey, 30% would rather have more monthly cash flow than pay off their mortgage sooner.
- 40% of Canadians would rather make higher mortgage payments than put more money down or defer their home purchase.
- Despite that, 74% believe the advantages to putting more money down outweigh the disadvantages.
The CMHC also finds that mortgage brokers are highly adept at securing mortgages for the self-employed. 20% of mortgage broker business is from self-employed borrowers, double the rate of banks.
Visited 3 times, 1 visit(s) today
Last modified: March 18, 2007
