That’s what the Canadian Association of Accredited Mortgage Professionals (CAAMP) semi-annual mortgage survey shows. This is THE survey that gauges the pulse of the housing market in Canada.
This year’s highlights include new data points that shed light on previously unexplored topics, revealing brand-new numbers on topics ranging from the risks of increasing the minimum down payment to pre-approval utilization to mortgage rate shopping habits. Here’s a little taste of who’s buying homes today:
620,000 households move into dwellings they have purchased each year.
45% (280,000) are first-time buyers. Most of these are between the ages of 25 and 34.
Just over 20% (130,000 per year) are making their second purchase.
One-third (210,000 per year) are making their third or subsequent purchase.
Feast on more mortgage financing facts, and when you’re ready to make your move, contact Mortgage Broker, Tracy Irwin. Get Tracy’s experience working for you!
Sweet Endings: Tracy & Nathan Run the (Yummy) Chocolate Race
Tracy convinced her son, Nathan to run the 10k Chocolate Race with her in honour of Mother’s Day. Nathan, while not a runner – agreed, proving just how much he loves his Mom. The mouth-watering event in St. Catharines featured everything chocolate… chocolate prizes, chocolate milk, chocolate croissant, chocolate fudge, chocolate covered strawberries and the best part, a chocolate martini at the end of the race! Way to go Tracy and Nathan. Next year, how about a triathlon in wine country!
