Equity Refinance Mortgage Loans Canada - Equity Mortgage Loans Canada - Second Mortgage Loans Canada
Mortgage Loans Canada, Mortgage Refinance Canada, Equity Mortgage Loans CanadaOnline Mortgage Application Form Instant Mortgage Approval 1-866-573-3122 24 HOUR CUSTOMER SERVICEEQUITY REFINANCE MORTGAGE LOANS CANADA BLOGMortgage Canada Buying and selling a home cheat sheetMortgage Canada Words To Know When Buying A HomeImportant Mortgage Websites linksMortgage Canada Basics - Mortgage Canada GuideMortgage Canada CMHC Newcomers to Canada Buying your First HomeMortgage Canada CMHC Home Buying Step By StepMortgage Canada CMHC Condominium Buyers GuideMortgage Canada Compare all Canadian Credit CardsHow Credit Effects Your Canadian MortgageMortgage Canada CMHC Housing Market Outlook Canada Edition Page 1Mortgage Calculator - Mortgage calculators allow you to make informed mortgage decisions
Equity Refinance Mortgage Loans Canada, Home Equity Unlocking, 1st & 2nd Mortgages, Your Mortgage Experts. My right Mortgage, INSTANT APPROVAL 24/7 CUSTOMER SERVICE FAST MORTGAGE PAYOUTS IN CANADA HIGHEST MORTGAGE APPROVAL RATE IN CANADA 1-866-573-3122

HOME BUYING, BUYING YOUR FIRST HOME & INFORMATION FOR SEASONED HOMEBUYERS
FINANCIAL CONSUMER AGENCY OF CANADA
CANADIAN ECONOMY NEWS
MORTGAGE BROKER NEWS
October, 2015
November, 2015
December, 2015
January, 2016

First-time buyer habits revealed

CMHC released its 2015 first-time homebuyer survey, which details the buying habits of one of the industry’s most lucrative segments.

“For many Canadians, buying their first home is the single, largest purchase they have ever made,” Nathalie Fredette, vice-president, client relationship management for CMHC, said in a release. “Our aim is to provide mortgage brokers, lenders and other industry professionals with valuable information and useful tools so they can better guide their clients through this major life event.”
by |

 
 

First-time buyer habits revealed

 
CMHC released its 2015 first-time homebuyer survey, which details the buying habits of one of the industry’s most lucrative segments.

“For many Canadians, buying their first home is the single, largest purchase they have ever made,” Nathalie Fredette, vice-president, client relationship management for CMHC, said in a release. “Our aim is to provide mortgage brokers, lenders and other industry professionals with valuable information and useful tools so they can better guide their clients through this major life event.”

According to the study, first-time buyers are two-times more likely to use social media to research buying information. Brokers, are your profiles up-to-date?

Another finding that brokers will find useful is that first-time buyers aren’t as confident in the buying process as repeat purchasers. They tend to have a lower understanding of their mortgage options and generally find the process more difficult.

That presents an opportunity for brokers to ease those frustrations by providing expertise and instilling confidence in these buyers.

And, unsurprisingly, a large number of these clients rely on brokers.

The survey found 70% of first-time buyers receive advice about rates, terms, repayment strategies, and affordability from brokers or lenders. This advice helped increase buyer satisfaction by over 80%.

“CMHC’s survey results reiterate the central role that mortgage professionals play in providing first-time homebuyers with the information they need to manage their money and debt wisely,” Jane Rooney, Canada’s financial literacy leader, said. “The more we understand the financial literacy needs of Canadians, the better we can be at providing the right information at the right time to help them build their financial knowledge, skills and confidence.”
  • Nick Bachusky on 2015-11-13 11:05:14 AM

    Here is the link to the report:
    http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2015/2015-11-12-0900.cfm

Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

 

Name (required)
   
Comment (required)
   
 
   
   
  By submitting, I agree to the Terms & Conditions
 
 
 
 

<< Back Add New Comment
0 items total
Add New Comment
Name*
Subject*
Comment*
Please type the confirmation code you see on the image*
Reload image

Powered by 4GoodHosting