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The 2016 CMHC Mortgage Consumer Survey Results Are In

The 2016 CMHC consumer survey has been released (attached). The survey is a great way to find out the performance of the brokerage industry, identify new trends and consumer perception, and make sure we as a company are investing in the right resources to help grow your business.

Here are some notable stats from the report:


Gathering Mortgage Information:

  • Using Mobile Devices increased to 27% in 2016
  • Using Social Media increased to 29% in 2016. 38% of those are First Time Buyers
  • Using Social Media is much higher among Broker clients (52%) versus lender clients (17%)

Mortgage broker share is trending upwards for Renewals (now at 26%) and Refinances (now at 38%)


Communications:

  • Providing advice on mortgage strategies can lead to 85% likelihood of new business
  • Mortgage consumers are looking for a variety of useful information post closing including mortgage/financial strategies, investment opportunities, and more.
  • Only 54% of clients using a broker are contacted post closing!
Tony Marchigiano310-328 West Hastings Street
Mortgage BrokerVancouver, BC
 
cell: 604 505 7109
fax: 604 909 4666

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