Most Canadians are `comfortable' with mortgage debt

Eighty-one per cent of homeowners surveyed by the Canada Mortgage and Housing Corp. say they are comfortable with their current level of mortgage debt.

The online survey of more than 2,500 homeowners also found that 68 per cent ``feel there is a strong chance they will pay off their mortgage sooner than required'' and 27 per cent said they have ``already taken steps to pay down their mortgage through lump-sum payments or through increased regular payments, '' according to the federal agency.

Meanwhile, CMHC said its annual survey found that 89 per cent of first-time homebuyers used the Internet to get information about mortgages and 84 per cent researched mortgage terms and conditions online.

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Most Canadians are `comfortable' with mortgage debt

Reviewed by citra
Published : 2010-04-26T14:04:00-07:00
Rating : 4.5