Mortgage Brokers Show Canadians Smart About Mortgages

A new survey released the Canadian Association of Accredited Mortgage Professionals shows that mortgage brokers believe that Canadians are being smart about taking about mortgages despite the record low rates. The survery reported:

• 70% of people surveyed opted for terms of at least five years or more
• 86%, were opting for fixed-rate mortgages over variable products
• majority of people who took out their first mortgage last year borrowed less than they could afford to

Click here to see a newspaper article discussing the survey:

New found prudence: Canadian mortgage borrowers not taking 'undue risks'

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