Help young clients buy homes

More than 63% of Canadians need more information about the financial details of buying a home, says a Nanos Research survey for CREA.

For those between the ages of 18 and 29, that figure rose to 70%.

“Helping Canadians plan for the future and make sound decisions is essential in this increasingly complex world,” says Shelly Glover, parliamentary secretary to the Minister of Finance.

This is especially true since mortgage rules have been tightening and evolving, and since Canadians nationwide need to keep their debt levels in check.

Read National debt to hit $600 billion

“Buying a home involves a number of steps, and many buyers need some help in understanding the various options available,” adds Ursula Menke, commissioner of the Financial Consumer Agency of Canada.

Read: Faceoff: Mind your mortgage

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Mortgage amortization worries homeowners