2011 cmhc mortgage consumer survey

8/6/2019 2011 CMHC Mortgage Consumer Survey

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2011MORTGAGECONSUMER

SURVEY

CANADA MORTGAGE ANDHOUSING CORPORATION

Everything you need to open new doors


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2011 MORTGAGE CONSUMER SURVEY RESULTS

CANADA MORTGAGE AND HOUSING CORPORATION 7

Survey results show that overall

mortgage broker market share has

remained stable over the past year

at 23% (all segments). By segment,

mortgage broker share remainedrelatively stable for 2011 at 48%

for first-time buyers, 32% for repeat

buyer (all buyers was 39%), 25% for

refinancers, and 15% for renewers.

As seen over the last couple

of years, broker market share is

strongest in Western Canada where

54% of buyers in British Columbia

used a mortgage broker. Usage in

other regions in Canada fall within

a couple of percentage points of

the national average of 39% for all

recent buyers.

20112010200920072006

13%14%

12%13%

15%

22%

28%25%

23%25%

23%

31%

31%33% 32%

27%

33%

38%39% 39%

30%

35%

44%

45%

48%

All Buyers

10%

15%

20%

25%

30%

35%

40%

45%

50%

RenewReRBFTB

Brokers maintain market share


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CANADA MORTGAGE AND HOUSING CORPORATION10

ABOUT THE SURVEY

From February 25th to March 25th 2011, CMHC completed an on-line survey of 3,512 recent mortgage

consumersall pr ime decision-makersand the result is a unique perspective on attitudes and behaviours.

CMHC has conducted this survey since 1999. As your trusted partner in mortgage loan insurance, we trust that

you can use these findings to identify opportunities and build stronger relationships with your clients.

DEFINITIONS

For the purpose of this survey, recent mortgage consumers are segmented as follows:

First-time buyers: those who purchased their first home in the past 12 months and took a mortgage

Repeat buyers: those who previously owned a home and have purchased a subsequent home in the past

12 months and took a mortgage

Renewers: those who renewed their mortgage in the past 12 months

Refinancers: those who refinanced their home through a mortgage in the past 12 months

MEANING OF LENDER LOYALTY

Lender loyalty for repeat buyers, renewers, and those refinancing means that they obtained their current

mortgage from the same mortgage lender they were dealing with previously. For first-time buyers it means that

they obtained their current mortgage from the financial institution they were dealing with the most at the time

they took out their mortgage.


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CANADA MORTGAGE AND HOUSING CORPORATION 11

CMHC offers a number of online tools and a wide variety of housing information to support Canadians in making

informed and responsible homebuying decisions as they pursue their housing needs. Access any of these resourcestoday and browse through the wealth of mortgage and housing information developed specifically with you and

your clients in mind.

cmhc.ca

Visit cmhc.ca and access a wealth of housing information. Whether your clients are

looking for information on homebuying, maintenance, or renovation - its all at your

disposal at the click of a button!

The RESOURCE for Mortgage Professionals

Make sure you stay top of mind with your clients by offering the right information at the

right time. Go to EverythingYouNeed.ca and register/log onto The RESOURCE for

Mortgage Professionals and personalize a variety of homebuying fact sheets such as:

Are you f inancially ready for a mor tgage?

Determining your household budget

Homebuying Step-By-Step

Managing Your Mortgage Tips to Make

Informed Home Financing Decisions

The ABCs of Mortgage Loan Insurance

And much, much more!

cmhc.ca/newcomers

Are your clients new to Canada? Visit cmhc.ca/newcomers and make sure theyre

well informed by providing them with relevant housing information in their own

native language!

EverythingYouNeed.ca

Visit EverythingYouNeed.ca today and find product information, market insights, and

valuable industry tools you can share with your clients, such as:

Mortgage Payment Calculator

Household Budget Calculator

Mortgage Affordability Calculator


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2011 Canada Mortgage and Housing Corporation. All rights r eserved. This presentation material is the proper ty of Canada Mortgage and Housing Corporation. This presentation

material may not be reproduced, copied, or distributed, in whole or in part, in any form, without the prior written permission of Canada Mor tgage and Housing Corporation.

The information, analyses, and opinions contained in this presentation material are based on various sources believed reliable, but their accuracy, completeness, and currency cannot be

guaranteed. This presentation material is not intended to provide specific advice or recommendations for any individual or entity, and should not be relied upon in that regard. Neither

CMHC nor its employees, agents , and advisors shall have any liability for actions or decisions taken based in whole or in part on any information or analysis in this presentation material.67423

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www.cmhc.ca/2011survey

2011 cmhc mortgage consumer survey

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