Canadians don’t have any intention of curbing their home purchasing habits over the next two years, according to a recent study.

The 17th annual RBC Homeownership Study revealed that 10% of Canadians say they’re ‘very likely’ to purchase a home in the next two years – an increase from 7% two years ago. Canadians aged 18-24 are leading the charge, with 15% saying they’re ‘very likely’ to buy – an increase from 8% in 2009.

While 91% continue to see home ownership as a good investment, Canadians are still opting to take the cautious route. Forty-four percent are planning to take a fixed rate mortgage, although combination mortgages are increasing in popularity. Forty percent say they’ll likely take out a mortgage with both a variable and fixed rated component, an increase from 32% in 2009.

For Canadians planning to take a fixed rate or combination mortgage, seven-in-10 intend to take a term of five years or longer. Sixteen per cent said they intend to take a variable rate mortgage, down from 20 per cent in 2009.

“Canadians seem to be opting for more caution this year and may be factoring in potential rate increases down the road,” said Marcia Moffat, RBC’s head of home equity financing. “Choosing a combination mortgage can take some of the guesswork out of making a decision between whether it is better to lock in to a longer-term or stay in a variable rate.”