:: Younger Canadian Mortgage holders sited as most fiscally aware ::

Results from a survey conducted by CMHC in the latter part of 06 revealed that 75% of Canadian home owners put paying off the mortgage as soon as possible to the head of the to do list. At least half of those surveyed said the cash surplus when available was put toward paying down the mortgage. Younger home owners were sited as being the most fiscally aware when it came to the mortgage.

Also revealed was that 86% of Canadians prefer their lender to be a Canadian Institution and that 84% were satisfied with the mortgage product they had chosen. This is reflected by the fact that the majority of mortgage holders who have renewed recently stayed with the same lender although the number of people making use of a mortgage brokerage when renewing and refinancing continues to rise.

71% of Canadian mortgage holders who refinanced, did so prior to the scheduled renewal time mainly to free capitol for home renovation and debt management.

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