Canadian Mortgage Rates,
Calculators, News & Insurance
Calculators, News & Insurance
| Year | Year to Year Comparison | ** National Contribution |
|---|---|---|
| 2011: | 14.29% | 0.04% |
| 2010: | 9.52% | 0.03% |
| 2009: | 10.88% | 0.03% |
| 2008: | 8.16% | 0.02% |
| 2007: | 10.20% | 0.03% |
| 2006: | 10.88% | 0.03% |
| 2005: | 5.44% | 0.01% |
| 2004: | 9.52% | 0.03% |
| 2003: | 14.29% | 0.04% |
| 2002: | 6.80% | 0.02% |
The bar graph below shows the volumes of mortgage applications received by CanEquity in each month for all years combined. The busiest months for mortgages from Richmond occur during our first quarter (represented by the brown bars) with 26.53% while our slowest is the fourth quarter (represented by the red bars) with 23.81%.
| Rank | Month | Percentage of Inquiries | |
|---|---|---|---|
| 1: | July: | 12.9% | |
| 2: | March: | 11.6% | |
| 3: | April: | 10.2% | |
| 4: | December: | 9.5% | |
| 5: | October: | 9.5% | |
| 6: | June: | 8.2% | |
| 7: | January: | 7.5% | |
| 8: | February: | 7.5% | |
| 9: | August: | 7.5% | |
| 10: | May: | 6.1% | |
| 11: | November: | 4.8% | |
| 12: | September: | 4.8% |
The graph below illustrates the busy days for online mortgage applications that were received by our web site. A combined total of all occurrences of each day are represented for the past 5 years. In Richmond the most busy day of the week, with 26.53% of all submissions, is Wednesday. In comparison, Saturday's are the slowest day with only 6.12% of all inquiries.
| Rank | Day of the Week | Percentage of Inquiries | |
|---|---|---|---|
| 1: | Wednesday: | 26.5% | |
| 2: | Thursday: | 16.3% | |
| 3: | Friday: | 15.7% | |
| 4: | Monday: | 12.2% | |
| 5: | Tuesday: | 12.2% | |
| 6: | Sunday: | 10.9% | |
| 7: | Saturday: | 6.1% |
Mortgage applications are received 24 hours a day on the CanEquity web site. The report shown below represents the busy hours within a 24-hour period. The data is taken from all days of all years. Only 21.1% of all mortgages are received during the morning, while 70.7% arrive in the afternoon.
| Time Period (24 Hour) | Percentage of Inquiries |
|---|---|
| 00:00 to 00:59: | 3.4% |
| 01:00 to 01:59: | 2.0% |
| 02:00 to 02:59: | 2.7% |
| 03:00 to 03:59: | 0.7% |
| 05:00 to 05:59: | 0.7% |
| 06:00 to 06:59: | 0.7% |
| 08:00 to 08:59: | 0.7% |
| 09:00 to 09:59: | 2.7% |
| 10:00 to 10:59: | 6.1% |
| 11:00 to 11:59: | 9.5% |
| 12:00 to 12:59: | 6.1% |
| 13:00 to 13:59: | 11.6% |
| 14:00 to 14:59: | 4.1% |
| 15:00 to 15:59: | 7.5% |
| 16:00 to 16:59: | 8.2% |
| 17:00 to 17:59: | 6.8% |
| 18:00 to 18:59: | 4.8% |
| 19:00 to 19:59: | 6.1% |
| 20:00 to 20:59: | 1.4% |
| 21:00 to 21:59: | 5.4% |
| 22:00 to 22:59: | 4.1% |
| 23:00 to 23:59: | 4.8% |
| Online Mortgage Origination for the Province of | Percentage of applications |
|---|---|
| Alberta: | 20.94% |
| British Columbia: | 10.57% |
| Manitoba: | 2.06% |
| New Brunswick: | 2.43% |
| Newfoundland and Labrador: | 1.25% |
| Nova Scotia: | 3.28% |
| Northwest Territories: | 0.40% |
| Nunavut: | 0.10% |
| Ontario: | 48.07% |
| Prince Edward Island: | 0.53% |
| Quebec: | 3.97% |
| Saskatchewan: | 4.94% |
| Yukon Territories: | 0.41% |
| Location | Contribution | |
|---|---|---|
| 003: | VICTORIA, BC | 0.664% |
| 004: | KELOWNA, BC | 0.327% |
| 005: | BURNABY, BC | 0.327% |
| 006: | ABBOTSFORD, BC | 0.294% |
| 007: | PRINCE GEORGE, BC | 0.291% |
| 008: | RICHMOND, BC | 0.277% |
| 009: | KAMLOOPS, BC | 0.264% |
| 010: | CHILLIWACK, BC | 0.262% |
| 011: | FORT ST JOHN, BC | 0.247% |
| 012: | COQUITLAM, BC | 0.234% |
| 013: | NORTH VANCOUVER, BC | 0.228% |
| Mortgage Application Form Type | Percentage of Inquiries | |
|---|---|---|
| Qualification: | 19.7% | |
| Refinance: | 16.3% | |
| Purchase: | 15.6% | |
| First-time Buyer: | 15.0% | |
| No Money Down: | 12.9% | |
| Renewal: | 10.2% | |
| Variable Rate: | 2.7% | |
| Commercial: | 2.0% | |
| HELOC: | 2.0% | |
| Equity Mortgage: | 1.4% | |
| Other: | 2.1% | |
| Total Application Types Found: 13 | ||
Average age: 40
Oldest age: 78
Youngest age: 19
The following depicts the average income of applicants living in Richmond who have submitted an inquiry using the pre-approval application on the CanEquity Mortgage web site.
| Average annual gross income for | |
|---|---|
| mortgage applicants in Richmond: | $66,644.34 |
| applicants within all of Canada: | $59,498.47 |
| Difference: | $7,145.87 |
| mortgage co-applicants in Richmond: | $37,843.08 |
| co-applicants within all of Canada: | $42,403.13 |
| Difference: | ($4,560.05) |
The following depicts the residential status of people living in Richmond who have applied for a loan using the pre-approval application on CanEquity's web site.
| Residential Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Rent: | 35.4% | |
| Own: | 48.3% | |
| Other: | 1.4% | |
| No Comment: | 6.8% | |
| Live with parents: | 8.2% |
The following table and pie chart represents the marital status of applicants from Richmond, British Columbia using the mortgage preapproval application found on the CanEquity Mortgage web site. In Richmond, 68% of the mortgage applicants are living with someone, while only 31% are not married or separated.
| Marital Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Married: | 63.9% | |
| Single: | 19.7% | |
| Divorced: | 7.5% | |
| Common-law: | 4.1% | |
| Separated: | 4.1% | |
| Widowed: | 0.7% |
