本文发表在 rolia.net 枫下论坛Canadians bullish on housing market: RBC survey
TORONTO, March 29, 2005 — A compelling 91 per cent of homeowners and 79 per cent of renters believe buying a home is a good investment, proving that Canadian residents are continuing to bank on the value of their homes. This is according to a new study from RBC Financial Group.
“Canadians are definitely bullish on housing and they should be,” said Clayton Van Esch, senior manager, Home Equity Financing, RBC Royal Bank. “No matter what the markets are doing, people have faith in the ongoing value of their homes. In fact, the number of respondents indicating that buying a home is a ‘great’ investment has more than doubled since 1999.”
RBC Royal Bank’s 12th Annual Homeownership Survey also notes Canada’s homeowners estimate the market value of their home to have increased over the last two years by 17 per cent. The Canadian Real Estate Association estimates that the average Canadian home has increased in value by over 200 per cent since 1980.
When it comes to paying for their homes, almost half (47 per cent) of those who are likely to buy in the next two years will use a down payment of 25 per cent or more. The survey also notes Canadians mistakenly believe the average minimum down payment necessary to purchase a home is 11 per cent. New options such as no down and low down payment mortgages make it possible for qualified buyers to purchase a home without having to spend years saving up while house prices continue to advance.
“Forty per cent of Canadians did not know that home equity based loans are the most affordable type of credit available,” added Van Esch. “Misconceptions like this are the reason why people should look to competent credit advice the same way they do investment advice.”
Fifty-six per cent of existing homeowners — and 90 per cent of homeowners age 25-34 — have a mortgage on their homes. The typical Canadian with a mortgage has $109,504 left to pay and expect it will take 12 years to pay off.
When Canadians planning to put a down payment on their home were asked if they plan to take out a fixed rate or a variable rate mortgage, or a combination of the two, 30 per cent say fixed rate and 23 per cent said variable rate. Also noteworthy, women are far more likely than men to prefer fixed rate terms (35 versus 27 per cent). Thirty eight per cent of Canadians have a preference for a combination of both a variable and fixed rate mortgage - indicating that Canadians may also be looking to diversify their major credit holdings to limit interest rate risk.
Other Facts
To protect their mortgage payments in case of death or disability, almost three-quarters (73 per cent) of mortgage holders have mortgage insurance.
More than half of Canadians (54 per cent) expect mortgage rates to be higher next year while 38 per cent expect them to be about the same.
64 per cent of Canadians expect housing prices to be higher next year and the same proportion expect rental accommodations to be higher.
Only eight per cent of homeowners with a mortgage plan to refinance their mortgage in the next 12 months. Those who do, plan for approximately $36,000 more than their existing mortgages.
As for borrowing against the equity in their home, one in five (22 per cent) homeowners have done so. Of the 78 per cent who have never borrowed against the equity of their home, 35 per cent say they would be comfortable doing so.
RBC is the largest residential mortgage lender in Canada with more than
$90 billion in loans outstanding in 2004 and over 15 per cent of the Canadian mortgage market. As the country’s number one source of financial advice on home ownership, consumer surveys are one way in which RBC provides insight to Canadians about the marketplace in which they live.
These are some of the findings of an RBC Financial Group poll conducted by Ipsos-Reid between January 18 and 24th, 2005. The telephone survey is based on a randomly selected representative sample of 2,001 adult Canadians. With a representative sample of this size, the results are considered accurate to within ± 2.2 percentage points, 19 times out of 20, of what they would have been had the entire adult Canadian population been polled. The margin of error will be larger within regions and for other sub-groupings of the survey population. These data were statistically weighted to ensure the sample's regional and age/sex composition reflects that of the actual Canadian population according to the 2001 Census data.更多精彩文章及讨论，请光临枫下论坛 rolia.net
TORONTO, March 29, 2005 — A compelling 91 per cent of homeowners and 79 per cent of renters believe buying a home is a good investment, proving that Canadian residents are continuing to bank on the value of their homes. This is according to a new study from RBC Financial Group.
“Canadians are definitely bullish on housing and they should be,” said Clayton Van Esch, senior manager, Home Equity Financing, RBC Royal Bank. “No matter what the markets are doing, people have faith in the ongoing value of their homes. In fact, the number of respondents indicating that buying a home is a ‘great’ investment has more than doubled since 1999.”
RBC Royal Bank’s 12th Annual Homeownership Survey also notes Canada’s homeowners estimate the market value of their home to have increased over the last two years by 17 per cent. The Canadian Real Estate Association estimates that the average Canadian home has increased in value by over 200 per cent since 1980.
When it comes to paying for their homes, almost half (47 per cent) of those who are likely to buy in the next two years will use a down payment of 25 per cent or more. The survey also notes Canadians mistakenly believe the average minimum down payment necessary to purchase a home is 11 per cent. New options such as no down and low down payment mortgages make it possible for qualified buyers to purchase a home without having to spend years saving up while house prices continue to advance.
“Forty per cent of Canadians did not know that home equity based loans are the most affordable type of credit available,” added Van Esch. “Misconceptions like this are the reason why people should look to competent credit advice the same way they do investment advice.”
Fifty-six per cent of existing homeowners — and 90 per cent of homeowners age 25-34 — have a mortgage on their homes. The typical Canadian with a mortgage has $109,504 left to pay and expect it will take 12 years to pay off.
When Canadians planning to put a down payment on their home were asked if they plan to take out a fixed rate or a variable rate mortgage, or a combination of the two, 30 per cent say fixed rate and 23 per cent said variable rate. Also noteworthy, women are far more likely than men to prefer fixed rate terms (35 versus 27 per cent). Thirty eight per cent of Canadians have a preference for a combination of both a variable and fixed rate mortgage - indicating that Canadians may also be looking to diversify their major credit holdings to limit interest rate risk.
Other Facts
To protect their mortgage payments in case of death or disability, almost three-quarters (73 per cent) of mortgage holders have mortgage insurance.
More than half of Canadians (54 per cent) expect mortgage rates to be higher next year while 38 per cent expect them to be about the same.
64 per cent of Canadians expect housing prices to be higher next year and the same proportion expect rental accommodations to be higher.
Only eight per cent of homeowners with a mortgage plan to refinance their mortgage in the next 12 months. Those who do, plan for approximately $36,000 more than their existing mortgages.
As for borrowing against the equity in their home, one in five (22 per cent) homeowners have done so. Of the 78 per cent who have never borrowed against the equity of their home, 35 per cent say they would be comfortable doing so.
RBC is the largest residential mortgage lender in Canada with more than
$90 billion in loans outstanding in 2004 and over 15 per cent of the Canadian mortgage market. As the country’s number one source of financial advice on home ownership, consumer surveys are one way in which RBC provides insight to Canadians about the marketplace in which they live.
These are some of the findings of an RBC Financial Group poll conducted by Ipsos-Reid between January 18 and 24th, 2005. The telephone survey is based on a randomly selected representative sample of 2,001 adult Canadians. With a representative sample of this size, the results are considered accurate to within ± 2.2 percentage points, 19 times out of 20, of what they would have been had the entire adult Canadian population been polled. The margin of error will be larger within regions and for other sub-groupings of the survey population. These data were statistically weighted to ensure the sample's regional and age/sex composition reflects that of the actual Canadian population according to the 2001 Census data.更多精彩文章及讨论，请光临枫下论坛 rolia.net