In March of this year, Canadian Mortgage and Housing Corporation (CMHC) published the results of its annual Mortgage Consumer Survey. CMHC has been conducting this survey since 1999 and it is considered to be the largest and most comprehensive survey of its kind in Canada. The survey was completed by 3,002 recent mortgage consumers and the results outline the key trends of Canadian home buyers. Of those who participated:
CMHC's survey continues to show that more mortgage consumers are choosing to work with a mortgage broker and that overall, they are satisfied with their experience. The survey breaks down the mortgage consumers trends as follows:
At One Link Mortgage, we also analyze what consumers feel uncertain or concerned about when getting a mortgage to ensure we are providing the very best service possible to our clients. For example, the 2017 CMHC survey found that 40 per cent of buyers mentioned having some concerns during the process and among this group, 57 per cent were uncertain about unforeseen costs. Discussing things such as closing costs and budgeting for unexpected home repairs with your client is very important and should always be a part of the mortgage process.
Why you need to work with a Mortgage Broker
Whether it is buying your first home, refinancing, planning renovations or looking at credit repair, you should be working with a mortgage broker. They will provide you with valuable advice and recommendations for your specific needs. They will also put together a customized mortgage plan and mortgage management system tailored to you. Remember, they work for you, not for any one lender. This opens up the kind of objectivity that allows them to focus on the product that is the best fit for you. One Link Mortgage Brokers have the experience, education and expertise to guide you successfully through the mortgage process.
Do you have question about getting a mortgage or about your current mortgage? Contact a trusted Mortgage Broker at One Link today! We are here to help.