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Wide Range of Choices for Home Buyers Mortgage

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No doubt that mortgage is part of people’s lives in Canada. There are many people who want to get mortgage so that they can have their own residential property. Looks like that number of people in Canada who are planning to get mortgage will continue to rise because of several factors. Wide range of choices for home buyer’s mortgage is one common factor that can trigger many Canadian people in the country to continue patronizing mortgage.

 

Based from the report and study conducted by CIBC, preferences of people when it comes in getting home mortgage may vary in accordance to individual’s situations and factors.  Each situation must be treated in accordance to different merits.

 

Concluded results of the study are well presented using a chart.  If you will analyze the presented chart, almost 58% of Canadian people with age more than 65 years old believe that mortgage’s rate will rise 12 months from now, 59% people with age ranging 55 to 64 years old, 35-44 and 25-34 years old believe that mortgage rate will rise, 62% people with age 45 to 54 believe that it will rise and 63% people with age 18-24 believe that mortgage rate will continue to rise.

 

55% of people in British Columbia and Alberta, 48% in Manitoba, 50% in Ontario, 305 in Quebec and 43%  of people in Atlantic Canada believe that mortgage rate in the country will rise. The report great manifests that people’s high demand for mortgage leads more people to predict that mortgage rate in the country will continue to rise.

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