Canadian Mortgage Rates,
Calculators, News & Insurance
Calculators, News & Insurance
Disclaimer:
CanEquity Mortgage has compiled the following data for educational and informational purposes as outlined in our privacy policy. All names, street and e-mail addresses, telephone numbers, dates of birth, and other forms of identification have been removed before the following data was compiled. These statistics are anonymous and contain no personal information, and cannot be used to gather such information.
The statistics gathered are from CanEquity’s web site and do not include inquiries via fax, e-mail, contact forms, phone-ins or walk-ins. The statistics gathered represent the growing Internet usage and mortgage trends found within Canada.
All information, charts and graphs represented are deemed accurate and reliable but no warranty or guarantee is implied. Data may be noticeably affected from time to time by changes in CanEquity Mortgage marketing efforts. Data may also be affected by Internet connectivity, outages and service (or lack of) to areas within Canada. The range of data collected is from 45,000 to 65,000 mortgage applicants from across Canada. All data has a deviation of +/- 1.00% for added anonymity. No statistic contained herein represents a single person.
This information may be used freely for educational or non-commercial use. For more information about this service, please e-mail marketing@canequity.com. Copyright © 2001-2010 CEG Research, The Canadian Equity Group Inc.
| Year | Volume Comparison | ** National Contribution |
|---|---|---|
| 2010: | * 7.83% | * 0.85% |
| 2009: | 15.19% | 1.64% |
| 2008: | 11.21% | 1.21% |
| 2007: | 12.69% | 1.37% |
| 2006: | 13.48% | 1.46% |
| 2005: | 10.55% | 1.14% |
| 2004: | 10.63% | 1.15% |
| 2003: | 11.07% | 1.20% |
| 2002: | 7.36% | 0.80% |
The bar graph below shows the individual monthly volume history for Internet pre-approval applications sent from British Columbia.
The bar graph below illustrates the volumes of online mortgage applications received by CanEquity in each month for all years combined. The busiest months for mortgages occur during our second quarter (represented by the green bars) with 30.11% while our slowest is the fourth quarter (represented by the red bars) with 18.32%.
| Rank | Month | Percentage of Inquiries | |
|---|---|---|---|
| 1: | April: | 10.3% | |
| 2: | May: | 10.3% | |
| 3: | March: | 9.9% | |
| 4: | January: | 9.7% | |
| 5: | June: | 9.5% | |
| 6: | February: | 9.1% | |
| 7: | July: | 8.4% | |
| 8: | August: | 7.5% | |
| 9: | September: | 6.8% | |
| 10: | October: | 6.6% | |
| 11: | November: | 6.6% | |
| 12: | December: | 5.1% |
The bar graph listed below shows the busy days for online inquiries that were received by CanEquity's web site. A combined total of all occurrences of each day are represented for the past 5 years. In British Columbia the busiest day, with 17.58% of all applications, is Tuesday. In comparison, Saturday's are the slowest day with only 9.48% of all inquiries.
| Rank | Day of the Week | Percentage of Inquiries | |
|---|---|---|---|
| 1: | Tuesday: | 17.6% | |
| 2: | Monday: | 17.2% | |
| 3: | Wednesday: | 16.5% | |
| 4: | Thursday: | 15.6% | |
| 5: | Friday: | 12.5% | |
| 6: | Sunday: | 11.1% | |
| 7: | Saturday: | 9.5% |
Inquiries are received 24 hours a day on the CanEquity web site. The graph shown below indicates the rush hours over a 24-hour period. The data is taken from all days of all years. Only 19.6% of all mortgages are received before noon, while 75.0% arrive in the afternoon.
| Time Period (24 Hour) | Percentage of Inquiries |
|---|---|
| 00:00 to 00:59: | 3.1% |
| 01:00 to 01:59: | 1.5% |
| 02:00 to 02:59: | 0.9% |
| 03:00 to 03:59: | 0.6% |
| 04:00 to 04:59: | 0.5% |
| 05:00 to 05:59: | 0.4% |
| 06:00 to 06:59: | 0.5% |
| 07:00 to 07:59: | 0.8% |
| 08:00 to 08:59: | 1.8% |
| 09:00 to 09:59: | 3.3% |
| 10:00 to 10:59: | 5.3% |
| 11:00 to 11:59: | 6.4% |
| 12:00 to 12:59: | 7.8% |
| 13:00 to 13:59: | 6.7% |
| 14:00 to 14:59: | 6.9% |
| 15:00 to 15:59: | 7.0% |
| 16:00 to 16:59: | 6.2% |
| 17:00 to 17:59: | 6.6% |
| 18:00 to 18:59: | 5.8% |
| 19:00 to 19:59: | 5.5% |
| 20:00 to 20:59: | 5.7% |
| 21:00 to 21:59: | 6.0% |
| 22:00 to 22:59: | 5.8% |
| 23:00 to 23:59: | 5.0% |
| Online Mortgage Origination for the Province of | Percentage in Comparison |
|---|---|
| Alberta: | 196.1% |
| British Columbia: | 100.0% |
| Manitoba: | 19.6% |
| New Brunswick: | 20.0% |
| Newfoundland and Labrador: | 10.7% |
| Nova Scotia: | 27.6% |
| Northwest Territories: | 2.9% |
| Nunavut: | 0.8% |
| Ontario: | 450.3% |
| Prince Edward Island: | 4.2% |
| Quebec: | 38.2% |
| Saskatchewan: | 46.7% |
| Yukon Territories: | 2.6% |
| City or Town within the province of British Columbia | Percentage of Inquiries | Average Age | Average Income | Average Co-Income | Average Loan | |
|---|---|---|---|---|---|---|
| 001: | VANCOUVER, BC | 9.767% | 38 | $66,564.87 | $41,655.65 | $269,488.57 |
| 002: | SURREY, BC | 7.006% | 39 | $62,272.91 | $45,170.29 | $217,443.51 |
| 003: | VICTORIA, BC | 6.553% | 39 | $58,935.10 | $41,004.67 | $227,847.53 |
| 004: | BURNABY, BC | 3.276% | 37 | $57,322.37 | $43,056.29 | $253,510.38 |
| 005: | KELOWNA, BC | 3.091% | 41 | $61,342.34 | $32,291.97 | $189,643.66 |
| 006: | ABBOTSFORD, BC | 2.741% | 38 | $54,199.81 | $36,445.62 | $202,958.96 |
| 007: | CHILLIWACK, BC | 2.555% | 41 | $53,932.52 | $43,370.22 | $186,515.20 |
| 008: | KAMLOOPS, BC | 2.535% | 38 | $50,453.25 | $43,583.88 | $160,294.94 |
| 009: | PRINCE GEORGE, BC | 2.493% | 38 | $51,913.80 | $38,594.75 | $150,767.20 |
| 010: | RICHMOND, BC | 2.473% | 40 | $67,737.44 | $38,212.12 | $226,195.11 |
| 011: | COQUITLAM, BC | 2.349% | 37 | $66,758.07 | $44,321.10 | $254,917.19 |
| 012: | NORTH VANCOUVER, BC | 2.308% | 39 | $72,704.10 | $53,500.94 | $288,458.54 |
| 013: | FORT ST JOHN, BC | 2.164% | 33 | $63,884.22 | $41,385.72 | $184,861.82 |
| 014: | LANGLEY, BC | 2.122% | 39 | $61,905.81 | $37,920.29 | $211,813.30 |
| 015: | NANAIMO, BC | 2.081% | 40 | $49,086.33 | $30,045.07 | $171,899.20 |
| 016: | MAPLE RIDGE, BC | 1.751% | 40 | $57,039.23 | $43,648.61 | $211,531.95 |
| 017: | DELTA, BC | 1.690% | 40 | $63,450.30 | $39,362.86 | $221,538.67 |
| 018: | VERNON, BC | 1.628% | 39 | $50,340.63 | $34,128.66 | $185,560.94 |
| 019: | NEW WESTMINSTER, BC | 1.587% | 39 | $57,235.99 | $46,529.67 | $211,141.27 |
| 020: | DAWSON CREEK, BC | 1.051% | 35 | $45,522.17 | $35,654.29 | $119,980.76 |
| 021: | PENTICTON, BC | 0.989% | 43 | $50,497.32 | $30,988.89 | $146,462.81 |
| 022: | PORT ALBERNI, BC | 0.948% | 39 | $44,423.26 | $36,105.71 | $129,627.14 |
| 023: | CAMPBELL RIVER, BC | 0.886% | 40 | $55,637.49 | $33,139.93 | $187,749.18 |
| 024: | PORT COQUITLAM, BC | 0.845% | 40 | $62,970.21 | $30,209.09 | $186,519.17 |
| 025: | SALMON ARM, BC | 0.824% | 38 | $47,496.20 | $30,316.67 | $203,010.26 |
| 026: | COURTENAY, BC | 0.804% | 42 | $47,383.05 | $27,983.57 | $149,296.10 |
| 027: | TERRACE, BC | 0.783% | 40 | $51,680.00 | $58,277.78 | $148,800.81 |
| 028: | MISSION, BC | 0.742% | 39 | $57,983.89 | $50,240.27 | $149,774.59 |
| 029: | NELSON, BC | 0.742% | 39 | $47,219.54 | $29,991.31 | $170,769.70 |
| 030: | DUNCAN, BC | 0.721% | 37 | $50,233.56 | $33,345.10 | $192,827.27 |
| 031: | WESTBANK, BC | 0.701% | 45 | $44,333.73 | $31,260.06 | $204,002.53 |
| 032: | CRANBROOK, BC | 0.680% | 40 | $49,034.23 | $51,280.83 | $113,526.68 |
| 033: | WILLIAMS LAKE, BC | 0.598% | 38 | $59,174.71 | $46,098.46 | $154,738.25 |
| 034: | PORT MOODY, BC | 0.577% | 41 | $88,862.31 | $45,500.00 | $267,227.78 |
| 035: | PARKSVILLE, BC | 0.556% | 47 | $52,359.23 | $28,200.00 | $153,454.85 |
| 036: | SECHELT, BC | 0.536% | 42 | $50,920.00 | $41,705.00 | $236,460.23 |
| 037: | LADYSMITH, BC | 0.536% | 41 | $53,921.31 | $39,436.36 | $181,113.14 |
| 038: | SOOKE, BC | 0.536% | 36 | $69,879.84 | $40,905.71 | $243,249.09 |
| 039: | REVELSTOKE, BC | 0.536% | 38 | $56,187.84 | $18,725.00 | $154,736.84 |
| 040: | KIMBERLEY, BC | 0.495% | 40 | $48,002.96 | $45,666.67 | $141,437.43 |
| 041: | KITIMAT, BC | 0.474% | 40 | $71,399.59 | $37,300.00 | $131,500.00 |
| 042: | COMOX, BC | 0.453% | 43 | $51,255.24 | $27,960.00 | $153,525.94 |
| 043: | SQUAMISH, BC | 0.453% | 36 | $63,477.27 | $38,000.00 | $218,425.00 |
| 044: | CASTLEGAR, BC | 0.453% | 32 | $50,403.09 | $82,139.88 | $142,735.00 |
| 045: | PITT MEADOWS, BC | 0.433% | 38 | $55,556.28 | $30,864.00 | $218,187.50 |
| 046: | GRAND FORKS, BC | 0.433% | 44 | $51,212.00 | $27,623.80 | $177,868.42 |
| 047: | POWELL RIVER, BC | 0.412% | 38 | $68,277.78 | $30,166.67 | $144,293.33 |
| 048: | WHITE ROCK, BC | 0.392% | 44 | $67,991.58 | $35,666.75 | $177,935.29 |
| 049: | ALDERGROVE, BC | 0.392% | 39 | $46,407.78 | $39,940.00 | $241,520.00 |
| 050: | MERRITT, BC | 0.392% | 46 | $54,069.21 | $45,500.00 | $223,488.24 |
| Mortgage Application Form Type | Percentage of Inquiries | |
|---|---|---|
| Qualification: | 26.1% | |
| First-time Buyer: | 16.6% | |
| Refinance: | 16.1% | |
| No Money Down: | 13.1% | |
| Renewal: | 11.2% | |
| Purchase: | 7.3% | |
| Variable Rate: | 1.9% | |
| Pre-approval: | 1.6% | |
| Equity Mortgage: | 1.6% | |
| Investment: | 1.1% | |
| Other: | 3.3% | |
| Total Application Types Found: 20 | ||
Average age: 39
Oldest age: 85
Youngest age: 19
The figures below represent the average income of Canadians living in British Columbia who have applied for a home loan using CanEquity's online mortgage application.
| Average annual gross income for | |
|---|---|
| mortgage applicants in British Columbia: | $58,707.71 |
| applicants within all of Canada: | $58,901.05 |
| Difference: | ($193.34) |
| mortgage co-applicants in British Columbia: | $39,655.48 |
| co-applicants within all of Canada: | $41,545.22 |
| Difference: | ($1,889.74) |
The pie chart below shows the residential status of people living in British Columbia who have submitted an inquiry using the online application located at the CanEquity web site.
| Residential Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Rent: | 42.2% | |
| Own: | 48.4% | |
| Other: | 1.9% | |
| No Comment: | 4.7% | |
| Live with parents: | 2.9% |
The pie chart below represents the marital status of applicants from British Columbia using the online mortgage application located at the CanEquity web site. In British Columbia, approximately 64% of the mortgage applicants are either married or living common-law, while only 34% are single, separated or divorced.
| Marital Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Married: | 50.8% | |
| Single: | 27.1% | |
| Common-law: | 13.2% | |
| Divorced: | 4.2% | |
| Separated: | 3.7% | |
| Widowed: | 1.0% |
