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A few months back, RBC/Ipsos polled people who were likely to purchase a home within the next two years. According to the survey the following concerns about purchasing a home were the top worries:

 

“Home prices increasing” - 23%

“Mortgage rates increasing” - 22%

“Your current debt level” - 20%

“Qualifying for a mortgage” - 19%

“Having a good down payment” - 16%

 

Climbing home prices and rising mortgage rates were the top two concerns cited last year as well. Some people have a genuine anxiety over missing the boat on rates and future price gains. Talk to your realtor and your mortgage advisor if you're considering buying but also have these concerns. They may be able to put some things into perspective through their experience and expertise.

 

In the meantime though click on the link below for the full report from the survey:

http://www.rbc.com/newsroom/2012/0405-12-homeownership.html



 Tony

Tony Marchigiano | Mortgage Specialist | Royal Bank of Canada | T. 604-505-7109 | F. 778-737-0054

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