Last report update for Canada: Sunday, February 7, 2010
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Mortgage Statistics for Canada

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Note: Commercial Mortgages were not included for this build, only residential mortgage loan amounts were used.

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 30,000 to 60,000 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 © 2001-2009 CEG Research, The Canadian Equity Group Inc.


Yearly Volume Comparison for CanEquity Online Mortgage Applications

Year Volume
2010: * 2.15%
2009: 17.79%
2008: 14.22%
2007: 13.88%
2006: 15.02%
2005: 11.21%
2004: 9.97%
2003: 9.63%
2002: 6.13%

Note: * This value is the percentage up to Sunday, February 7, 2010. Estimated volume target for the entire 2010 year is 19.15%.

Monthly Volume History for Internet Mortgage Originations

The following depicts the individual monthly volume history for online mortgage pre-approval applications.


Monthly Volume Report for Mortgages

Busy Months for Canadian Mortgage Originations

The following bar graph depicts the volumes of mortgage applications received by CanEquity in each month for all years combined. The busiest months for mortgages occur during our first quarter (represented by the brown bars) with 29.25% while our slowest is the fourth quarter (represented by the red bars) with 18.99%.

RankMonth Percentage
of Inquiries
1: January: 10.6%
2: April: 9.8%
3: March: 9.8%
4: May: 9.6%
5: February: 8.8%
6: July: 8.5%
7: June: 8.4%
8: August: 8.0%
9: September: 7.5%
10: October: 7.3%
11: November: 6.5%
12: December: 5.2%
Busy Months Report for Mortgages

Busy Days for Canadian Mortgage Originations

The information below shows the busy days for mortgage inquiries that were received by CanEquity's web site. Each day represents a combined total of all occurrences of that day in the past 5 years. In Canada the busiest day, with 18.12% of all applications, is Monday. In comparison, Saturday's are the slowest day with only 9.21% of all inquiries.

Rank Day of the
Week
Percentage
of Inquiries
1: Monday: 18.1%
2: Tuesday: 18.0%
3: Wednesday: 16.4%
4: Thursday: 15.2%
5: Friday: 12.3%
6: Sunday: 10.8%
7: Saturday: 9.2%
Busy Days Report for Mortgages in Canada

Peak Hours for Canadian Mortgage Originations

Applications are received 24 hours a day on the CanEquity web site. The graph shown below represents the rush hours within a 24-hour period. The data is taken from all days of all years.


Time Period
(24 Hour)
Percentage
of Inquiries
00:00 to 00:59: 1.3%
01:00 to 01:59: 0.7%
02:00 to 02:59: 0.4%
03:00 to 03:59: 0.4%
04:00 to 04:59: 0.6%
05:00 to 05:59: 1.1%
06:00 to 06:59: 2.1%
07:00 to 07:59: 3.6%
08:00 to 08:59: 5.0%
09:00 to 09:59: 6.0%
10:00 to 10:59: 6.9%
11:00 to 11:59: 7.1%
12:00 to 12:59: 7.4%
13:00 to 13:59: 6.9%
14:00 to 14:59: 6.7%
15:00 to 15:59: 6.1%
16:00 to 16:59: 5.4%
17:00 to 17:59: 5.7%
18:00 to 18:59: 5.9%
19:00 to 19:59: 5.4%
20:00 to 20:59: 5.3%
21:00 to 21:59: 4.5%
22:00 to 22:59: 3.3%
23:00 to 23:59: 2.2%
Peak Hours Graph for Mortgages in

Mortgage Originations Compared to all other Provinces


Online Mortgage Origination
for the Province of
Percentage of
applications
Alberta: 21.14%
British Columbia: 10.92%
Manitoba: 2.10%
New Brunswick: 2.10%
Newfoundland and Labrador: 1.14%
Nova Scotia: 2.89%
Northwest Territories: 0.31%
Nunavut: 0.09%
Ontario: 48.84%
Prince Edward Island: 0.43%
Quebec: 4.05%
Saskatchewan: 5.08%
Yukon Territories: 0.25%
Canadian Mortgages

Top Producing Cities / Towns for Mortgages within Canada

City or Town within
Canada
Percentage
of Inquiries
Average
Age
Average
Income
Average
Co-Income
Average
Loan
001:CALGARY, AB 7.213% 36 $65,269.93 $44,565.40 $218,335.54
002:TORONTO, ON 4.933% 37 $71,925.66 $53,387.80 $254,775.55
003:EDMONTON, AB 4.583% 35 $57,413.92 $41,605.73 $195,692.38
004:MISSISSAUGA, ON 2.610% 38 $64,932.54 $43,484.27 $222,133.15
005:OTTAWA, ON 2.380% 36 $64,532.38 $47,823.46 $196,759.20
006:REGINA, SK 2.035% 33 $46,608.15 $35,083.06 $126,136.57
007:LONDON, ON 1.587% 36 $51,307.69 $39,606.73 $151,133.30
008:BRAMPTON, ON 1.553% 38 $56,099.13 $40,550.29 $189,438.23
009:HAMILTON, ON 1.501% 37 $51,431.17 $36,947.14 $142,140.30
010:WINNIPEG, MB 1.153% 36 $49,925.98 $35,232.31 $130,763.91
011:KITCHENER, ON 1.069% 37 $56,801.96 $46,934.83 $170,845.30
012:VANCOUVER, BC 1.057% 38 $66,735.85 $41,849.56 $268,664.52
013:SCARBOROUGH, ON 0.940% 37 $54,882.26 $39,472.95 $213,146.17
014:MONTREAL, QC 0.882% 37 $66,770.09 $45,294.42 $221,675.93
015:BARRIE, ON 0.882% 36 $54,516.75 $35,821.65 $162,878.00
016:WINDSOR, ON 0.839% 36 $57,021.33 $42,285.56 $129,493.73
017:BURLINGTON, ON 0.825% 40 $70,337.42 $44,981.26 $196,544.20
018:SURREY, BC 0.777% 39 $62,266.05 $42,018.56 $215,300.37
019:VICTORIA, BC 0.736% 39 $59,063.89 $40,683.62 $226,217.93
020:SASKATOON, SK 0.721% 36 $50,999.91 $40,879.34 $154,522.66
021:OAKVILLE, ON 0.705% 40 $76,766.27 $44,567.52 $215,941.82
022:OSHAWA, ON 0.659% 38 $55,043.66 $40,767.70 $146,451.28
023:RED DEER, AB 0.626% 34 $55,860.31 $38,021.52 $194,376.12
024:CAMBRIDGE, ON 0.606% 37 $55,674.23 $38,852.17 $161,599.37
025:GUELPH, ON 0.599% 36 $58,038.24 $38,846.24 $184,526.44
026:FORT MCMURRAY, AB 0.566% 35 $90,012.01 $55,021.06 $306,447.17
027:ST CATHARINES, ON 0.561% 35 $49,997.52 $35,457.85 $148,781.16
028:BRANTFORD, ON 0.556% 36 $48,708.45 $33,353.95 $141,031.93
029:ETOBICOKE, ON 0.547% 37 $55,471.90 $42,262.89 $217,577.59
030:RICHMOND HILL, ON 0.542% 40 $71,058.43 $56,113.72 $204,911.95
031:KINGSTON, ON 0.520% 39 $55,832.78 $37,976.45 $164,632.09
032:NORTH YORK, ON 0.487% 36 $57,387.75 $44,055.30 $254,675.68
033:GATINEAU, QC 0.453% 37 $58,374.98 $41,234.48 $160,660.91
034:MARKHAM, ON 0.434% 36 $67,319.80 $49,861.37 $225,124.42
035:LETHBRIDGE, AB 0.422% 38 $51,356.54 $29,666.05 $173,863.39
036:HALIFAX, NS 0.407% 36 $50,860.84 $37,540.84 $151,333.97
037:AJAX, ON 0.405% 39 $63,771.68 $39,096.17 $180,235.08
038:WATERLOO, ON 0.398% 37 $61,370.84 $41,116.86 $195,177.75
039:PETERBOROUGH, ON 0.398% 38 $51,574.62 $46,311.94 $136,990.46
040:SHERWOOD PARK, AB 0.396% 39 $69,602.61 $46,209.49 $197,001.17
041:THUNDER BAY, ON 0.396% 37 $49,496.36 $38,997.94 $104,236.52
042:WHITBY, ON 0.379% 38 $62,269.13 $49,407.58 $162,629.73
043:SAULT STE MARIE, ON 0.362% 36 $43,373.89 $41,018.02 $106,400.60
044:BURNABY, BC 0.357% 36 $57,432.88 $42,466.88 $250,774.23
045:SUDBURY, ON 0.357% 36 $60,703.87 $37,239.68 $138,739.76
046:GRANDE PRAIRIE, AB 0.355% 33 $66,132.40 $49,657.96 $187,108.36
047:PICKERING, ON 0.350% 39 $64,643.00 $52,638.28 $175,582.08
048:NIAGARA FALLS, ON 0.340% 35 $42,737.33 $42,823.82 $135,693.37
049:KELOWNA, BC 0.338% 41 $60,865.98 $31,398.70 $185,644.94
050:ST JOHN'S, NL 0.321% 37 $47,873.13 $30,786.49 $109,301.47

Product Popularity Breakdown for all of Canada


Mortgage Application
Form Type
  Percentage
of Inquiries
Qualification: 23.6%
First-time Buyer: 20.0%
Refinance: 16.5%
No Money Down: 13.0%
Renewal: 10.7%
Purchase: 7.2%
Pre-approval: 2.0%
Variable Rate: 1.9%
Investment: 0.9%
Other: 4.1%
 
Total Application Types Found: 22
 Mortgage Product Popularity Pie Chart

Age Demographics for Online Mortgage Inquiries in Canada

Average age: 37
Oldest age: 90
Youngest age: 19


Incomes for Online Mortgage Inquiries

The numbers below represent the average income of people living in Canada who have applied for a home loan using CanEquity's online mortgage application.

Average annual gross income for
applicants within all of Canada: $58,448.42
co-applicants within all of Canada: $41,110.46
Difference: $17,337.97

Note: Commercial loans were not included for this report, only residential mortgage loan amounts were used.

Residential Status for Canadian Mortgage Inquiries

The chart and pie-graph below depicts the residential status of people living in Canada who have applied for a mortgage loan using the pre-approval application on the CanEquity Mortgage web site.

Residential Status of
Mortgage Applicant
  Percentage
of Inquiries
Rent: 43.1%
Own: 45.4%
Other: 2.1%
No Comment: 4.9%
Live with parents: 4.5%
Canadian Residential Status Pie Chart

Marital Statistics for Canadian Mortgage Inquiries

The following pie chart represents the marital status of applicants using the mortgage application located at the CanEquity web site. Approximately 63% of the mortgage applicants are either married or living common-law, while only 35% are single, separated or divorced.

Marital Status of
Mortgage Applicant
  Percentage
of Inquiries
Married: 49.6%
Single: 28.0%
Common-law: 13.8%
Separated: 4.0%
Divorced: 3.9%
Widowed: 0.7%
Canadian Marital Status Pie Chart