Canadians Attitudes on Mortgages

Canadians Attitudes on Mortgages

45% of Canadians would choose a fixed rate mortgage if they had to decide today

26% of Canadians would choose a variable rate mortgage

25% of Canadians were unsure of which type of mortgage they would choose

FACT: 76% of Canadian homebuyers consult their banker for mortgage advice and 40% feel that the bank is their primary source of information about financing their home purchase.

Percentage of Canadians who would choose a fixed rate mortgage if they were to acquire, refinance or renew a mortgage today, by region in 2013:

37% of Canadians in Atlantic Canada

45% of Canadians in Quebec

41% of Canadians in Ontario

64% of Canadians in Manitoba and Saskatchewan

47% of Canadians in Alberta

49% of Canadians in British Columbia

Percentage of Canadians who would choose a variable rate mortgage if they were to acquire, refinance or renew a mortgage today, by region in 2013:

25% of Canadians in Atlantic Canada

32% of Canadians in Quebec

26% of Canadians in Ontario

18% of Canadians in Manitoba and Saskatchewan

26% of Canadians in Alberta

22% of Canadians in British Columbia

Quick facts about the Canadian Real Estate Market

40% of Canadians plan to buy a home within the next two years

52% of Canadians feel that now is the time to buy

43% feel that home prices will be higher at this time next year

40% feel that the housing market is balanced

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