September 3, 2011

How Are Buyers Financing Real Estate?

Okanagan Mainline Real Estate Board's 3 month survey (June, July, August 2011) lists the following for financing sources:

June, 2011

Conventional Mortgage (>20% down) – 42.3%
All Cash – 34.9%
High Ratio (<20% down) – 22.8%
Rental Income to Qualify – 2.0%

July 2011
Conventional Mortgage (>20% down) –56.0 %
All Cash – 29.3%
High Ratio (<20% down) – 13.3%
Rental Income to Qualify – 2.0%

August 2011
Conventional Mortgage (>20% down) – 45.8%
All Cash – 31.3%
High Ratio (<20% down) – 20.1%
Rental Income to Qualify – 2.8%

http://www.omreb.com/