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COVID-19 Stokes Canadian Homebuying Intentions: MPC Report

Author: External Author | Sep 02, 2020 | Categories: Builder Mortgage , Commercial Mortgage , Debt Consolidation , Down Payment , First Time Home Buyer Mortgage , Home Equity Line Of Credit , Home Renovation Mortgage , Investment Property Mortgage , Mortgage Broker , Mortgage Pre-Approval , Mortgage Pre-Approvalv , Mortgage Refinance , Mortgage Renewal , New to Canada Mortgage Program , Private Mortgage , Reverse Mortgage , Second Mortgage , Self Employed Mortgage

The global pandemic may have brought the Canadian real estate sector to a near standstill this spring, but over the longer term it appears to have stoked homebuying intentions.

Fourteen percent of current renters say they plan to purchase a home within the next 12 months, up from 7% reported in late 2019, according to new survey results released by Mortgage Professionals Canada. The percentage of renters who say they would never purchase a house has also fallen by more than half, from 32% at year-end 2019 to 14% post-COVID.

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Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By: Steve Huebl

Original Article Posted on: August 10, 2020

Link to Original Article: https://www.canadianmortgagetrends.com/2020/08/covid-19-stokes-canadian-homebuying-intentions-mpc-report/