Canadian Mortgage Rates,
Calculators, News & Insurance
Calculators, News & Insurance
| Year | Year to Year Comparison | ** National Contribution |
|---|---|---|
| 2011: | 25.00% | 0.01% |
| 2010: | 20.83% | 0.01% |
| 2009: | 4.17% | 0.00% |
| 2008: | 12.50% | 0.01% |
| 2007: | 8.33% | 0.00% |
| 2006: | 8.33% | 0.00% |
| 2005: | 12.50% | 0.01% |
| 2004: | 8.33% | 0.00% |
Inquiries are received 24 hours a day from the CanEquity web site. The graph shown below represents the peak hours within a 24-hour period. The data is taken from all days of all years. Only 0.0% of all mortgages are received during the morning, while 37.5% arrive in the afternoon.
| Time Period (24 Hour) | Percentage of Inquiries |
|---|---|
| 01:00 to 01:59: | 4.2% |
| 05:00 to 05:59: | 4.2% |
| 08:00 to 08:59: | 4.2% |
| 09:00 to 09:59: | 8.3% |
| 11:00 to 11:59: | 12.5% |
| 12:00 to 12:59: | 8.3% |
| 13:00 to 13:59: | 8.3% |
| 14:00 to 14:59: | 12.5% |
| 15:00 to 15:59: | 12.5% |
| 16:00 to 16:59: | 4.2% |
| 17:00 to 17:59: | 12.5% |
| 18:00 to 18:59: | 4.2% |
| 20:00 to 20:59: | 4.2% |
| Online Mortgage Origination for the Province of | Percentage of applications |
|---|---|
| Alberta: | 20.94% |
| British Columbia: | 10.56% |
| Manitoba: | 2.05% |
| New Brunswick: | 2.44% |
| Newfoundland and Labrador: | 1.27% |
| Nova Scotia: | 3.30% |
| Northwest Territories: | 0.42% |
| Nunavut: | 0.10% |
| Ontario: | 47.81% |
| Prince Edward Island: | 0.52% |
| Quebec: | 3.94% |
| Saskatchewan: | 4.91% |
| Yukon Territories: | 0.43% |
| Location | Contribution | |
|---|---|---|
| 001: | IQALUIT, NU | 0.044% |
| 002: | GJOA HAVEN, NU | 0.009% |
| 003: | CAMBRIDGE BAY, NU | 0.007% |
| 004: | RANKIN INLET, NU | 0.007% |
| 005: | PANGNIRTUNG, NU | 0.005% |
| 006: | IGLOOLIK, NU | 0.005% |
| Mortgage Application Form Type | Percentage of Inquiries | |
|---|---|---|
| Qualification: | 29.2% | |
| Purchase: | 25.0% | |
| No Money Down: | 20.8% | |
| Refinance: | 12.5% | |
| First-time Buyer: | 12.5% | |
| Total Application Types Found: 5 | ||
Average age: 43
Oldest age: 60
Youngest age: 28
The amounts below are the average income of Canadians living in Iqaluit who have submitted an inquiry using CanEquity's online mortgage application.
| Average annual gross income for | |
|---|---|
| mortgage applicants in Iqaluit: | $104,597.50 |
| applicants within all of Canada: | $59,709.04 |
| Difference: | $44,888.46 |
| mortgage co-applicants in Iqaluit: | $85,666.67 |
| co-applicants within all of Canada: | $42,699.57 |
| Difference: | $42,967.09 |
Since the average income of Iqaluit is notability higher than our national average, we have included the MEDIAN annual gross income for this location. A reason for such a high average is usually due to a high income that is just under our cut-off of acceptable incomes of <$500,000. In rare cases, some applicants may have entered an extra digit (ie. 400000 instead of 40000), which will also sway the averages in smaller areas. In such a case, we will correct the data accordingly.
| Median annual gross income for | |
|---|---|
| mortgage applicants in Iqaluit: | $99,000.00 |
| applicants within all of Canada: | $59,709.04 |
| Difference: | $39,290.96 |
The following depicts the residential status of people living in Iqaluit who have applied for a mortgage loan using CanEquity's preapproval application.
| Residential Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Rent: | 79.2% | |
| Own: | 16.7% | |
| Live with parents: | 4.2% |
The pie chart below represents the marital status of applicants from Iqaluit, Nunavut using the mortgage preapproval application found on canequity.com. Approximately 58% of the mortgage applicants are either married or living common-law, while only 41% are not married or separated.
| Marital Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Married: | 37.5% | |
| Single: | 33.3% | |
| Common-law: | 20.8% | |
| Divorced: | 8.3% |
