Mortgages/Residential Mortgage Lending - Canada - March 2016
"A current banking relationship is the most important choice factor for consumers when choosing a mortgage lender, underlying the importance of a strong branch network and motivated front-line staff to cross-sell mortgage products."
– Sanjay Sharma, Senior Financial Services Analyst
This report covers the following issues:
- Two out of three Canadians find the housing market overvalued
- TD is the market leader
- Current banking relationship is the strongest choice influencer
- Around three in five mortgage holders have a fixed rate mortgage
- British Columbians have higher mortgage debt amounts
The mortgage marketplace is dominated by the major banks but there is strong competition, not only among them, but from smaller virtual banks, regional banks, private lenders and credit unions. This Report covers consumer behaviour around choice of financial institution, factors that influence lender choice, types of mortgages owned, debt amounts and attitudes towards the housing market and mortgages in general.
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