Purchasers are savvy about mortgage debt

Not only are home purchasers savvy these days but they are also optimistic. As CMHC reported, approximately 90 per cent of Canadians believe that home ownership is a good long-term investment. I can't agree more, of course. The study revealed that home owners have been smart about making bulk payments to their mortgage principle debt and want to become mortgage free before the end of their amortization period. We should all be thinking this way. Always check your mortgage contract to see what your pre-payment priviledges are, it's worth making the extra payment when you can.

Source: CMHC