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AGENT LICENSE ID
X029635MMB
BROKERAGE LICENSE ID
X029635 MMB
David Docksteader, MBI Broker/Owner

David Docksteader, MBI

Broker/Owner


Office:
Phone:
Address:
347 Leon Avenue Suite 210, Kelowna, British Columbia

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THE SURVEY

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CMP Survey Tells How 2000 Canadians Feel About Their Mortgage Experience

11/23/2015

A new survey for Canadian Mortgage Professionals is out. Bond Brand Loyalty asked 2,000 Canadian homeowners about their mortgage experience.

Of interest:

  • 65% of customers who used a broker got more than one quote compared to just 47% of bank customers
  • 35% of customers say they used a broker to get multiple quotes, 65% say they used a broker to get the best interest rate
  • Significantly, about a third of respondents say they used a broker to explain the process or to do research

It's telling that 45% of broker customers say they are "very satisfied" with their experience, compared to 39% for banks.

What customers say about themselves:

  • Just 4% of borrowers say they "definitely regret" the size of their mortgage. A mere 3% say they are "very comfortable" with their loan-to-value ratio.
  • Approximately 20% say they will defer retirement due to mortgage debt

45% say they needed outside help to make their down payment, but about 7 in 10 say they could manage a down payment even if Ottawa pushed the equity rate to 10%

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