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About 92% of Canadians see at least one barrier to Owning a Home or Condo…
According to Zwillow and Ipsos, their top two concerns were related to the Mortgage process. Canadians said, they dealt that when the mortgage rules changed in 2018, they began to feel the pressure of qualifying for a mortgage due to the implications of the stress test requiring borrowers to qualify at higher rates. It’s a surprise to many that great credit and a significant down payment cannot always guarantee you will qualify for a mortgage. Other concerns to home buyers included; money for a down payment (66%), debt (56%), and lack of job security (47%). Only 8% of Canadians see no barriers to home ownership.
