[Infographic] Canadians Needed Financial Help to Buy a Home

Canada’s hot housing market has made it difficult for first-time homebuyers looking to enter the market. With sky-high housing prices, the ability to gather enough funds for a down payment has become increasingly more difficult.

Ratehub.ca recently looked into the down payment behaviour of Canadians in its 2016 Digital Money Trends Report. Regional differences become apparent supporting the varying housing market conditions across the country.

This infographic shows the percentage of Canadians who received help from relatives to get into the housing market, the percentage of Canadians who made a down payment of 5%, and the percentage of Canadians who made a down payment of 20% or more:

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</p><div style="width:800px;"><img style="width:100%;" src="https://www.ratehub.ca/blog/files/2017/01/dmt-mortgages-infographic.jpg"></p><div style="text-align:right; font-family:sans-serif; font-size:14px;">Family Matters: Canadians needed a helping hand to start strong in a hot housing market by <a style="text-decoration: none; color: #245d80;" title="best mortgage rates Canada" href="https://www.ratehub.ca/best-mortgage-rates">Ratehub.ca</a>.</div></div><p>

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Also read:

• 2016 Digital Money Trends Report: What We Learned About Saving & Investing
• 2016 Digital Money Trends Report: What We Learned About Loyalty
• 2016 Digital Money Trends Report: What We Learned About Mortgages

Flickr: Harshil Shah