ZT-TMG- CMHC's 2009 Mortgage Consumer Survey

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5 W& }# Z9 h( @, `CMHC recently surveyed 2,507 new mortgage consumers.  Here's what they found:

7 M+ @* W9 h9 k& M9 p7 i•70%:  Feel now is a good time to buy a home in Canada
•1/3:  Expect to move in the next five years
•73%:  Used their own resources (savings, equity, or RRSP) for their down payment.
' f- _1 b8 W4 c/ m3 J& x0 `1 X+ G•1/3:  Have previously requested their credit score from a credit bureau.  (Wow.  2/3 have not?)
•87%:  Believe that 40% is the maximum ratio of monthly gross income that one should spend on debts and housing (It's interesting that so many people know this. This 40% figure is, of course, a general lender guideline for maximum TDS.)
What matters to homeowners:
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: D. i2 P8 @6 D( ]7 h; Y1 c5 e•"Getting the best rate":  This was the number one thing that made customers satisfied with their lender or broker.
; c3 }$ k: Q8 V8 k; F4 \•"Service":  The top reason driving customer satisfaction with brokers.
•"A good relationship":  The top reason behind customer satisfaction with lenders.
Other interesting market share stats:

•90%:  The number of people up for renewal who stayed with their existing lender.  That compares to 83% in 2007.  (This is absolutely stunning. Either lender retention departments are getting much better or people are getting more complacent.  In this competitive market, you've got to shop around-or, better yet, get a professional to do it for you.)
: F  i5 _3 Y9 c4 O3 X9 v•25%:  The number of mortgages originated by mortgage brokers. CMHC said it was 27% in 2007 (See CMHC's 2007 Mortgage Survey).  (The banks seem to be making a comeback for the time being. They're most definitely getting more competitive. In addition, we're seeing a lot of smaller lenders harness the power of the net to drive new business.)
•44%:  The number of first-time buyers who got their mortgage through a broker.  (This is up sharply from 35% in 2007.)
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) g' E# F$ g: \9 Rhttp://www.happymortgages.com/newsarticle.asp?id=210
$ l; U9 ^7 x( ^% m- p; R4 NSource:  The chart and all data are courtesy of CMHC.