28% of Renters Surveyed Plan To Buy A Home Within 2 Years!

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28% of Renters Surveyed Plan To Buy A Home Within 2 Years!

91% of them said they would use the services of a Mortgage Broker

landlord In a survey commissioned by The Mortgage Group, one third of today’s renters plan on buying a home of their own in the next 2 years. This large group of buyer will have a positive impact on Canada’s housing market and the mortgage industry.

Mark Kerzner president of The Mortgage Group Canada was quoted as saying, “Buyers recognize Mortgage Brokers provide a fast efficient way to access a wide variety of Mortgage options and solution, in most cases at no cost. Saving time and money is important, especially to first time buyers.”

The survey relying on a “representative” sampling of Canadians found that 28% of current renters are planning to buy in the next two years. This would be a potential increase of 12% in demand for homes.

Maybe even more compelling is the fact that of those surveyed, 91% of respondents plan to use a Mortgage Broker to obtain their financing!

Mortgage Brokers have always had a high concentration of the first time buyers market.

One of the reasons for this is that first time buyers like knowing that they are dealing with someone who is dedicated to mortgage lending.

Brokers also have access to great information they willingly share with first time buyer, making them more comfortable as they commit to one of life’s most important purchase. Mortgage Brokers offer the greatest choice of lenders and mortgage options while doing all the leg-work for the home buyer.

Not surprisingly, a relationship with a Mortgage Broker who will guide you and provide the most competitive rate options at no cost draws a high number if first time buyers.

The current historically low interest rates are certainly making renters think about home ownership even more than before. Consider that you can carry a $200,000 home for as little as $863.84 at todays best 5 year fixed rate of 3.19% with a 30 year amortization.

Why would you be paying off your landlord’s mortgage at these rates??

Elfie Hayes Award-winning Mortgage Intelligence Agent, as seen on the CTV National News, Rogers TV, published in RENO & Décor Magazine and profiled in Canadian Mortgage Professional Magazine. Elfie Hayes (AMP) Mortgage Agent FSCO Lic M08001377 905-443-0197 or view our rates today on lowrate.ca!