More Canadians interested in understanding their mortgage options..
Posted on Jul 19, 2012 in Mortgage Market Updates and NewsIn 2012′s Mortgage Consumer Survey by Canadian Mortgage and Housing Corporation, it became clear to me that mortgage consumers are now more than ever interested in understanding the terms and conditions that go along with their mortgage.
The survey determined that the average buyer in Canada last year spent about 5 weeks researching their mortgage options and terms before committing to a product, eight weeks for first time home buyers.
What does this tell me.. I’m not the only one in the world who actually finds mortgages interesting lol. But seriously, consumers, especially first time home buyers, are seeing the importance of selecting the best mortgage product for them, and understanding how it works.
With all the changes to the mortgage industry, and news about household debt concerns, people are really starting to see how important it is to look at options before signing onto a mortgage.
Although many people still say they feel a loyalty to their bank, they’re starting to realize, whether their bank wants to or not, they may not have the best product or rate available to give.
Talking to a broker who has access to many banks and financial institutions has never been more important than it is today, and more and more mortgage consumers are starting to see that.
“I often have clients come to me to shop around and I end up placing them with their usual bank anyways as that’s the best option for them. But atleast then they feel confident they’ve made the best decision for themselves as I’ve looked around for them. Rather than just going into their bank themselves and assuming it’s their best choice.” – Sharie Marie Francoeur – Mortgage Professional with TMG The Mortgage Group Canada Inc.
Call Sharie Marie today to discuss your mortgage options 2507300239, firstname.lastname@example.org or visit shariemarie.ca