Whistler
Real Estate Co Ltd, #137- 4370 Lorimer Road, Whistler, BC V0N 1B4
2 out of 3 don't shop at renewal
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Every now and then we see a mortgage
stat that's a jaw-dropper.
This finding from Manulife Bank is one of them. It suggests there are a lot
more people with money to burn than one might expect.
Manulife recently surveyed 1,000 Canadian homeowners between the ages of 30
to 59. Among respondents with a mortgage, two-thirds (65%) did not compare
mortgages from more than one lender when they last renewed.
More specifically:
- 20% stayed with their current lender after maturity and did not
negotiate
- 45% stayed with their current lender and tried to negotiate a
good deal, but did not shop around
- 35% compared mortgages from several lenders and choose the best
overall lender and product.
Source: CanadianMortgageTrends.com
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