2010 Consumer Mortage Survey

Results from the 2010 CMHC Mortgage Consumer Survey show that mortgage broker market share has remained stable over the past year.

Mortgage brokers continue to have higher usage among first-time buyers (45%) and repeat buyers (33%) compared to the refinancing and renewal segments, which have been relatively stable since 2006 at about 23% and 13%, respectively.

As seen in 2009, broker market share is strongest in Western Canada where 53% of buyers in British Columbia and 41% in the Prairies used a broker to arrange their mortgage.

One key finding found that the Internet is a vital tool for mortgage shoppers. In fact, almost nine out of 10 first-time homebuyers use the Internet to research mortgages.

Click here to read more CMHC survey results.

About the Survey

From February 11th to 28th 2010, CMHC completed an on-line survey of 2,503 recent mortgage consumers — all prime decision-makers — and the result is a unique perspective on attitudes and behaviours.

CMHC has conducted this survey since 1999.  The findings are meant to be a CMHC contribution as your trusted partner in mortgage loan insurance.  We trust that you can use these findings to identify opportunities and build stronger relationships with your clients.

Key Findings from the 2010 Survey

• The Internet, an important tool for mortgage consumers
• First-time buyers get informed on mortgage options
• Mortgage broker share is stable
• Mortgage consumers are confident with homeownership

Additional Information

• Consumer Mortgage Behaviour