Mortgage consumers are confident with homeownership, says CMHC

A recent report by the Canada Mortgage and Housing Corporation (CMHC) reveals some confident consumer attitudes towards homeownership. A large majority of recent home buyers (92%) agree that homeownership is a good long-term investment and 77% agree that now is a good time to purchase a home.

The survey results show that consumers are confident about their mortgage debt, with 81% of home buyers indicating that they are quite comfortable with their current level of mortgage debt. Recent home buyers are also positive about their financial stability. Four in five (80%) are comfortable that their financial situation will be stable over the course of the next year, and 91% indicated that their income level should remain stable or grow over the next several years.

Source: Canada Mortgage and Housing Corporation 2010 Mortgage Consumer Survey, April 2010.