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Home Interest Rate concerns not stopping Buyers...

Interest Rate concerns not stopping Buyers from entering Housing Market

Interest rate concerns not stopping Buyers from entering Housing Market

 

Two surveys commissioned by the Bank of Montreal, BMO Financial Group and Royal Bank of Canada (RBC) show that despite being worried about rising prices and interest rates, many Canadians are planning on entering the housing market.  Interest Rates


According to the BMO survey conducted by Harris-Decima, rising housing prices have encouraged first-time homebuyers to buy homes sooner, with one-third saying talk of rising house prices and rising interest rates have influenced their decision to enter the market.


A separate survey conducted for RBC showed that 64 per cent of Canadians expect mortgage rates to be higher over the next year, with 66 per cent of mortgage holders saying they were concerned about higher rates. The RBC study also revealed that 83 per cent of Canadians remain positive that homeownership is a good investment. The RBC survey was conducted online by Ipsos-Reid.


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above courtesy of Ontario Real Estate Association, Queens Park Plus, April 2010

 

 

 

Posted Tuesday Apr 13