2018 Mortgage Consumer Survey

In April 2018, CMHC conducted its annual Mortgage Consumer Survey, the largest and most complete survey of its kind in Canada.

We surveyed 4,000 mortgage consumers who had made one of the following transactions in the past 12 months:

  • took out a mortgage to buy their first home (first-time buyers)
  • took out a mortgage to buy a home that wasn’t their first home (repeat buyers)
  • renewed their mortgage
  • refinanced their mortgage

This year, we broke down the findings into modules based on the 3 mortgage consumer segments to help you better understand your clients:

  • buyers (includes both first-time buyers and repeat buyers)
  • renewers
  • refinancers

We also added some new questions to the Survey to find out more about things like:

  • the January 1, 2018, mortgage qualification rules
  • home equity lines of credit (HELOCs)
  • interest rates
  • amortization periods
  • renovations

We’ll be releasing this information on our website over the coming months, along with more tools and resources for you to share with your clients.

Breakdown of respondents

Here’s a quick look at this year’s survey respondents, by type of mortgage transaction:

  • 68% renewed their mortgage
  • 15% refinanced their mortgage
  • 9% took out a mortgage to buy their first home
  • 7% took out a mortgage to buy a home that wasn’t their first home

Geographic weighting

The Survey was designed to include active mortgage consumers in each of Canada’s five regions. Total results were weighted to reflect the actual proportion of households in each region. The weighted samples for each region were:

  • Atlantic (284)
  • Quebec (1,004)
  • Ontario (1,470)
  • Prairies (708)
  • British Columbia (535)

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Date Published: October 19, 2018