#canadianrealestate #canadamortgagerates #cmhc Canadian mortgage consumers are struggling amid higher interest rates, leading plunging satisfaction with the homebuying/homeowning process, according to a new survey from CMHC.Links:The 2023 Mortgage Consumer Survey results are in!: https://www.cmhc-schl.gc.ca/en/professionals/housing-markets-data-and-research/housing-research/surveys/mortgage-consumer-surveys/survey-results-2023Mortgage experience satisfaction down as interest rates rise: https://finance.yahoo.com/news/mortgage-experience-satisfaction-down-interest-153000015.htmlInterest Rates: Immediate Rates ( 24 Hrs): Prime Rates: Total for Canada: https://fred.stlouisfed.org/series/IRSTPI01CAM156NHigher mortgage rates are making some Canadians question value of home ownership: https://globalnews.ca/news/9688032/canadians-home-ownership-long-term-investment-high-rates/Like 2009, this real estate dip might not last: https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-housing-bubble-canada-real-estate/Bank warns mortgage delinquencies could rise by more than one third as homeowners struggle to make payments:https://www.thestar.com/business/2023/05/09/failed-mortgage-payments-expected-to-spike-as-more-homeowners-struggle-with-rising-costs.htmlConsumer insolvencies spike to highest level since 2019: https://www.cbc.ca/news/business/consumer-insolvencies-spiking-1.6839671FOMO is returning to Canada's housing market: https://www.nugget.ca/real-estate/fomo-returning-canada-housing-marketBeyond Toronto, homebuyers are finding less choice and higher prices: https://www.theglobeandmail.com/real-estate/toronto/article-beyond-toronto-homebuyers-are-finding-less-choice-and-higher-prices/Bank of Canada’s Macklem says inflation falling quickly, but emphasizes longer fight to return to 2 per cent: https://www.theglobeandmail.com/business/economy/article-macklem-bank-of-canada-imf/Almost one third of Canadian homeowners with a mortgage now have amortization periods of more than 30 years: https://www.thestar.com/business/2023/04/25/one-third-of-canadian-homeowners-now-have-mortgage-periods-of-more-than-30-years.htmlFederal watchdog proposes help for cash-strapped mortgage borrowers: https://www.theglobeandmail.com/business/article-federal-government-mortgage-borrowers-relief/Bank of Canada watching trend of longer amortization periods among borrowers: https://www.canadianmortgagetrends.com/2023/04/bank-of-canada-watching-trend-of-longer-amortization-periods-among-borrowers/Mark Mitchell – Mortgage Broker London Ontario920 Commissioners road east London, Ontario N5Z 3J1Phone: (519)860-2102 (Call or Text)[email protected]Brokerage Lic: 10464Broker Lic: M16001479https://www.LondonOntarioMortgages.ca – Apply Online!!Youtube Channel: https://www.youtube.com/c/MarkMitchellMortgageBrokerLondonOntarioSubscribe NOW for more Mortgage/Financial News/Videos.Follow me on Social Media:Instagram - https://www.instagram.com/mortgagebrokerlondonontarioFacebook - https://www.facebook.com/londonontariomortgagesTwitter - https://twitter.com/londonmortgage1/LinkedIn - https://www.linkedin.com/in/mark-mitchell-london-s-mortgage-broker-197842123/TikTok - https://www.tiktok.com/@mortgagebrokerlondon?lang=enCommentary on this Channel should not be considered financial advice.
