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2024 CMHC Mortgage Consumer Survey Results

For our 2024 survey, we reached out to nearly 4,000 mortgage consumers across Canada to find out what they’re thinking when it comes to their mortgage.

Since 1999, we’ve conducted our Mortgage Consumer Survey to help industry experts better understand the dynamics of the mortgage market from the consumer’s perspective. The survey explores the behaviours, attitudes and expectations of homebuyers, mortgage refinancers and renewers.

Unlock Homebuying and Mortgage Insights

Explore mortgage market dynamics from a consumer’s perspective. Get the latest data and analysis highlighting the current state of homebuying, homeownership and mortgage lending in Canada.

Download the report (PDF)
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Here’s a Preview of What You’ll Find in the Report

NEW Mortgage Consumer Trends: 2019 to Today

Explore data from our 5 most recent surveys with comparison tables on key survey questions from 2019 to 2024.

Discover trends in the homebuying process, use of mortgage professionals, experience of owning a home and more.

Access exclusive insights now. Sign up for CMHC Housing Updates and we’ll send you a download link to access the trends.

Get instant access

Key Highlights

The results from our 2024 Mortgage Consumer Survey reveal that the market has stayed relatively stable since 2023. Explore highlights on homebuying and mortgage characteristics.

Interest rates: The current environment

  • 81%

    of mortgage consumers are impacted or anticipate being impacted by the rise of mortgage interest rates

  • 36%

    of homebuyers said the rise in mortgage interest rates changed their buying timeline

  • 42%

    of mortgage consumers faced difficulties maintaining certain debt payments, including mortgage payments

Saving for a down payment: What it takes for homebuyers

  • 30%

    of homebuyers received a partial or full gift for their down payment

  • 32%

    of buyers who received a gift wouldn't have been able to purchase a home that meets their needs without a monetary gift

  • 12%

    of homebuyers used the savings from within a tax-free First Home Savings Account (FHSA) as a down payment source

The mortgage professional experience in numbers

  • 48%

    relied on a broker to manage their mortgage negotiations

  • 72%

    were satisfied with their broker experience

  • 47%

    arranged their mortgage through a bank or financial institution

  • 75%

    were satisfied with their lender experience

  • 41%

    used their mortgage professional due to previous good service

  • 34%

    of buyers feel that realtors are most valuable during homebuying process

Making choices for greener homes

  • 57%

    of homebuyers state that energy efficiency was an important factor in their home purchasing decision

  • 93%

    of those who did energy efficient renovations are satisfied with the results of their renovations

  • 68%

    of those who did energy efficient renovations saw savings in their energy/electricity bills

Get the Trends and Join our CMHC Housing Updates Mailing List

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    Date Published: May 8, 2024

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