More Canadians Putting Home-buying Plans on Hold

Author: External Author | Categories: First Time Home Buyer , Mortgage Agent , Mortgage Services , New to Canada Mortgage

High prices, rising interest rates and an uncertain economic outlook are causing many would-be homebuyers to postpone their plans to purchase a house.

Nearly half (43%) of those polled in a recent Scotiabank survey said they are putting their home purchase plans on hold, an increase from 22% in 2021 and 20% in 2020.

Half of those aged 18 to 34 said rising interest rates are causing them to reevaluate their purchase plans.

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Original Article Source Credits:   CANADIAN MORTGAGE TRENDS ,

Article Written By:  Steve Huebl

Original Article Posted on:  April 4, 2022

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