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Strengthen your Financial Literacy with CMHC

Tuesday, March 17, 2020   /   by Mark Silenzi

Strengthen your Financial Literacy with CMHC

Powered by: the 2018 Mortgage Consumer Survey 

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Buying and owning a home is one of the largest financial investments you can make. It is important for you to educate yourself about what is involved in homeownership so you can make the best decisions possible. CMHC offers a wide variety of resources and tools to support you. 


Looking back, 32% of mortgage consumers wish they had more information on tools to manage their mortgage. (Get more planning tips cmhc.ca/mortgagetips)


17% of mortgage consumers are newcomers to Canada (Find housing information for newcomers to Canada cmhc.ca/newcomers)


70% of mortgage consumers used an online mortgage calculator (Access CMHC's mortgage calculators - cmhc.ca/Calculators)


Price/Affordability 

is the most important factor considered when buying a home (58%0


25% of broker clients and 12% of lender clients would have considered follow-up contact related to house market information useful.


37% of home buyers felt concerns or uncertainty about buying a home. 


Learn the steps to buying a home cmhc.ca/StepbyStep


55% of First-time buyers rent 1-5 years before buying their first home. 


1/4 of homebuyers incurred unexpected costs. 


65% of broker clients and 19% of lender clients use social media to gather mortgage -related information 


(Follow CMHC on social media)


33% of home buyers did not get an appraisal 


Looking back, 31% of mortgage consumers wish they had more information on what to do when faced with financial difficulties. 


30% of mortgage consumers wish they had more information on credit scores. 


6% of mortgage consumers are  self-employed


71% of mortgage consumers plan to renovate in the next five years or less. 


Source: cmhc.ca 



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  homebuying, homeownership, housing market information, choosing mortgage plan, financing, real estate, real estate information, statistics and data, mortgage, infographic, mortgage plans

Remax Escarpment Realty Inc Brokerage - Silenzi Real Estate Team
Mark Silenzi
2180 Itabashi Way
Burlington, ON L7M 5A5
905-961-0563

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®.
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