(778) 668-9320 scott.dawson@verico.ca

CMHC has just released their 2013 Mortgage Consumer Survey. Some of the most interesting stats come from how consumers are now searching for and finding mortgage information.

Key Findings from the 2013 Mortgage Consumer Survey

  • 66% of mortgage consumers look online for information about mortgage features & options.
  • 14% of mortgage consumers use Social Media to gather information about mortgages.
  • Among consumers using social media, the most popular platforms include Facebook and forums, each used by about of 40% of social media users. Blogs were used by 36% of those using social media, while other platforms such as YouTube, Twitter, and LinkedIn were used by about 10%.
  • Mobile use increased to 19% up from 14% in 2012.
  • Mobile use is particularly strong among 1st time home buyers at 38% and among younger consumers (18-24 year olds) at 53%.
  • About the 2013 CMHC Mortgage Consumer Survey

    In March & April 2013 CMHC completed an on-line survey of 2,951 recent mortgage consumers.

    Among recent mortgage consumers surveyed as part of the 2013 Mortgage Consumer Survey, all had undertaken a mortgage transaction in the past 12 months. Fifty-eight percent had undergone a mortgage renewal, 24% had refinanced their mortgage, and 18% had purchased a home with mortgage financing. In comparison to the 2012 Mortgage Consumer Survey, this year’s survey shows a higher incidence of renewers (49% in 2012), and slightly lower incidences of refinancers (27% in 2012), and home buyers (24% in 2012).

    For full stats from the CMHC Consumer Survey you can download the PDF report.