Statistics in the Canadian Market...

Good morning all.

I've been reviewing my favourite economics publishers and going over some numbers very relevant to the Canadian market. I thought I would take a time out today and share some of them with you in bullet point note form.

Enjoy.

In no particular order....

- 90% of consumers world-wide are most likely to trust the recommendations of the people they know

- on that fact, did you know that 36% of people turn to Family and frioends as their key source of referrals

- 1/5 of Canada's total GDP is housing related economic activity

- Equity LOC's now comprise 12% of household debt here in Canada

- Overall equity is at 72% of the total value of housing in Canada

- At the current 5 year posted rate of 5.19%, reducing amortization from 35 years to 30 will booset an owners payment by $95 or more than 6% on a $300K loan

- This change is the same as a .5% interest rate hike

- In Canada 58% have less than 25 years left of amortization, 12% have between 25-30 years and the reamaining 30% have over 30 years.

- 92% of all homeownders feel that owning ahome is a good long term investment

-84% of first time buyers research on the internet about mortgages before talking to a professional

- 71% of those who researched compare the costs of different interest rate scenarios

- and 65% check for competetive rates

- 54% of Canadians feel the Internet is the most important and influential form of media compared to tv at 27%

- 53% of Consumers depend on Social Media to help make a purchase


All in all some neat numbers to look at. I was quite surprised when I saw them for the most part.

For more links or Mortgage information visit my webpage at http://www.kevynoyhenart.ca/ and click through.

Until next time...

Kevyn