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OTTAWA - Despite a stream of negative economic news, most Canadians who have recently bought a home have confidence in their decision, according to a survey by the Canada Mortgage and Housing Corporation.
A national consumer survey released Tuesday said 90 per cent of recent home purchasers believed that a house is a good long-term investment. Almost 70 per cent of respondents also said they felt that this is a good time to buy a home.
BMO economist Robert Kavcic said he`s not surprised that consumers might feel this way. "We`ve seen house prices come down across the country, and mortgage rates are bouncing around record lows," he said. "The cost of having a home right now looks very low relative to the past five or six years."
Read the full article here.
A national consumer survey released Tuesday said 90 per cent of recent home purchasers believed that a house is a good long-term investment. Almost 70 per cent of respondents also said they felt that this is a good time to buy a home.
BMO economist Robert Kavcic said he`s not surprised that consumers might feel this way. "We`ve seen house prices come down across the country, and mortgage rates are bouncing around record lows," he said. "The cost of having a home right now looks very low relative to the past five or six years."
Read the full article here.