Home mortgages in a slower Canadian economy: how are people approaching them?

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Despite the slowing of the economy in 2008, and the standstill in 2009, people are still doing research on the internet to learn about mortgages, shop for mortgage rates, and find out if they qualify for mortgages or not.


Joe Janovich, President of the Canadian mortgage brokerage, The Mortgage Store Online, paints a picture of how he sees people are dealing with mortgages and home-hunting in this season: “People are still looking for mortgages: just at a slower pace: they are still doing their research, still looking to see if they qualify for mortgages: but are taking their time with shopping for their homes. It’s the positive side of human-nature that Janovich is seeing in this time.


“Most of us human beings, including our current mortgage-clients, appear to be planning for the future: even though things are slow: and that’s a great approach for everyone to take in hard-times,” comments Janovich.


“That way people are ready and equipped with the information they need to buy homes and finalize their mortgage when the economy bounces back up: they’re utilizing their time well: they’re taking the time to dream about the future: about what they’ll do when the economy has bounced back: I’ve enjoyed noticing this aspect of people’s actions in this difficult time.”


This mortgage news was brought to you by The Mortgage Store Online: a Canadian mortgage brokerage that offers both home and commercial mortgages throughout Canada.

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