The trend to extend continues. 65% of Albertans with less than 20% down are choosing amortizations over 25 years! Nationwide the average is 55%.
Even 55% is a big number–and a big surprise to many, given how new long-term amortizations are. The demand for these products is increasingly insatiable–especially in high-priced markets.
In Alberta’s case we should remember, however, that its economy is forecast to grow 4.5% in 2008. Canada, as a whole, is slated for “only” 2.5% growth.
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