
Highlights:
• Consumer concern about rising rates is offset by increasing home equity
• Many mortgages were renegotiated at lower rates; amortization periods are declining
• Many Canadians have used cost savings from low rates to pay more than required, providing flexibility to deal with mortgage rate increases
• Mortgage debt is a priority – the vast majority of Canadians have never missed a payment
• A high percentage of Canadians still believe it is a good time to buy a home
Source: Canadian Association of Accredited Mortgage Professionals releases
spring survey report on residential mortgage market
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