ZT-TMG- CMHC's 2009 Mortgage Consumer Survey

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CMHC recently surveyed 2,507 new mortgage consumers.  Here's what they found:

" Y$ C+ t: k0 F+ `- L•70%:  Feel now is a good time to buy a home in Canada
! F- D' Q! k. J, B•1/3:  Expect to move in the next five years
) u, p* ^3 D) l* v: X•73%:  Used their own resources (savings, equity, or RRSP) for their down payment.
•1/3:  Have previously requested their credit score from a credit bureau.  (Wow.  2/3 have not?)
8 i& t( h/ S0 a* g2 N9 v•87%:  Believe that 40% is the maximum ratio of monthly gross income that one should spend on debts and housing (It's interesting that so many people know this. This 40% figure is, of course, a general lender guideline for maximum TDS.)
, R# i( ~1 }" K5 t* }9 fWhat matters to homeowners:

4 B# \0 v$ c3 r! j5 ?2 {•"Getting the best rate":  This was the number one thing that made customers satisfied with their lender or broker.
•"Service":  The top reason driving customer satisfaction with brokers.
•"A good relationship":  The top reason behind customer satisfaction with lenders.
; g9 r2 z+ w: r" y* VOther interesting market share stats:

•90%:  The number of people up for renewal who stayed with their existing lender.  That compares to 83% in 2007.  (This is absolutely stunning. Either lender retention departments are getting much better or people are getting more complacent.  In this competitive market, you've got to shop around-or, better yet, get a professional to do it for you.)
9 w* x: d$ N( k. p" S2 y9 I•25%:  The number of mortgages originated by mortgage brokers. CMHC said it was 27% in 2007 (See CMHC's 2007 Mortgage Survey).  (The banks seem to be making a comeback for the time being. They're most definitely getting more competitive. In addition, we're seeing a lot of smaller lenders harness the power of the net to drive new business.)
" I+ R6 o- ]8 g5 h6 s; C•44%:  The number of first-time buyers who got their mortgage through a broker.  (This is up sharply from 35% in 2007.)

http://www.happymortgages.com/newsarticle.asp?id=210
Source:  The chart and all data are courtesy of CMHC.