Mortgage News
2014 CMHC Mortgage Consumer Survey
In March and April 2014, CMHC completed an online survey of 3,584 recent mortgage consumers, all prime household decision-makers who had undertaken a mortgage transaction in the past 12 months.
Published
CMHC's 2014 Mortgage Consumer Survey is a great read for industry professionals and present/future mortgagors. The survey's results provides us with a glimpse in recent mortgagor behavior. The difference between this report and others is that CMHC surveyed recent borrowers.
Borrowers are increasingly becoming more aware of doing business with mortgage brokers. According to the survey, brokers have increased their market share in 3 out of 4 mortgage categories tracked by CMHC.
Some interesting information pulled from the report can be found below:
- 78% of mortgage consumers looked to online information sources to gather information about mortgage options and features
- 41% of consumers contacted at least one broker
- 48% of mortgage originations among first-time buyers are handled by mortgage brokers