Canadian Mortgage Trend – Hybrid Mortgages Catching On

Investors like to avoid putting all their eggs in one basket. But this philosophy has been slow to catch on in the mortgage market.

94% of people still choose either fixed or variable rates, says CAAMP. Very few choose a combination of both.

That may be changing, if yesterday’s RBC/Ipsos Reid poll is right.

According to RBC, 40% of prospective homebuyers (people who plan to buy in the next two years) intend to take out a hybrid mortgage. That compares to 32% in last year’s survey.

These stats are a little hard to grasp given CAAMP’s recent mortgage survey. It suggests only 6% of Canadians have actually chosen a hybrid mortgage in last year. However, Ipsos Reid’s Sean Simpson, says: “I would account for the difference by saying that one is an outlook while the other is retrospective.”… Read full article here

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>