Canadian Mortgage Rates,
Calculators, News & Insurance
Calculators, News & Insurance
| Year | Year to Year Comparison | ** National Contribution |
|---|---|---|
| 2011: | 10.50% | 0.16% |
| 2010: | 9.65% | 0.15% |
| 2009: | 13.43% | 0.21% |
| 2008: | 11.36% | 0.18% |
| 2007: | 9.89% | 0.15% |
| 2006: | 13.80% | 0.21% |
| 2005: | 10.99% | 0.17% |
| 2004: | 9.16% | 0.14% |
| 2003: | 7.08% | 0.11% |
| 2002: | 4.15% | 0.06% |
The bar graph below displays our website's individual monthly volume history for Internet pre-approval applications sent from London, ON.
The graph below depicts the volumes of applications received by CanEquity in each month for all years combined. The busiest months for mortgages from London usually occur during our first quarter (represented by the brown bars) with 28.69% while our slowest is the fourth quarter (represented by the red bars) with 21.00%.
| Rank | Month | Percentage of Inquiries | |
|---|---|---|---|
| 1: | March: | 10.9% | |
| 2: | May: | 9.9% | |
| 3: | January: | 9.2% | |
| 4: | April: | 8.7% | |
| 5: | February: | 8.7% | |
| 6: | September: | 8.3% | |
| 7: | August: | 8.2% | |
| 8: | July: | 7.8% | |
| 9: | October: | 7.7% | |
| 10: | June: | 7.5% | |
| 11: | November: | 6.8% | |
| 12: | December: | 6.5% |
The information below shows the busy days for Internet applications 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 London, the day with the most volume, having more than 20.15% of all inquiries, is Tuesday. In comparison, Saturday's are the slowest day with only 10.13% of all inquiries.
| Rank | Day of the Week | Percentage of Inquiries | |
|---|---|---|---|
| 1: | Tuesday: | 20.1% | |
| 2: | Wednesday: | 18.1% | |
| 3: | Monday: | 17.8% | |
| 4: | Thursday: | 11.7% | |
| 5: | Sunday: | 11.6% | |
| 6: | Friday: | 10.5% | |
| 7: | Saturday: | 10.1% |
London mortgage applications are received 24 hours a day on the CanEquity web site. The time periods below represents the rush hours over a 24-hour period. The data is taken from all days of all years. Only 36.3% of all mortgages are received during the morning, while 61.5% arrive in the afternoon.
| Time Period (24 Hour) | Percentage of Inquiries |
|---|---|
| 00:00 to 00:59: | 1.0% |
| 01:00 to 01:59: | 0.9% |
| 02:00 to 02:59: | 0.4% |
| 03:00 to 03:59: | 0.7% |
| 04:00 to 04:59: | 0.6% |
| 05:00 to 05:59: | 1.3% |
| 06:00 to 06:59: | 2.1% |
| 07:00 to 07:59: | 3.7% |
| 08:00 to 08:59: | 6.8% |
| 09:00 to 09:59: | 7.1% |
| 10:00 to 10:59: | 6.8% |
| 11:00 to 11:59: | 7.1% |
| 12:00 to 12:59: | 8.3% |
| 13:00 to 13:59: | 5.3% |
| 14:00 to 14:59: | 5.4% |
| 15:00 to 15:59: | 6.3% |
| 16:00 to 16:59: | 3.1% |
| 17:00 to 17:59: | 6.7% |
| 18:00 to 18:59: | 6.7% |
| 19:00 to 19:59: | 6.1% |
| 20:00 to 20:59: | 5.4% |
| 21:00 to 21:59: | 3.5% |
| 22:00 to 22:59: | 2.3% |
| 23:00 to 23:59: | 2.4% |
| 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 | |
|---|---|---|
| 001: | TORONTO, ON | 4.581% |
| 002: | MISSISSAUGA, ON | 2.463% |
| 003: | OTTAWA, ON | 2.261% |
| 004: | LONDON, ON | 1.546% |
| 005: | BRAMPTON, ON | 1.493% |
| 006: | HAMILTON, ON | 1.472% |
| 007: | KITCHENER, ON | 1.048% |
| 008: | SCARBOROUGH, ON | 0.885% |
| 009: | BARRIE, ON | 0.823% |
| Mortgage Application Form Type | Percentage of Inquiries | |
|---|---|---|
| First-time Buyer: | 23.0% | |
| Qualification: | 20.4% | |
| Refinance: | 13.8% | |
| No Money Down: | 12.9% | |
| Renewal: | 11.5% | |
| Purchase: | 10.0% | |
| Variable Rate: | 2.2% | |
| Pre-approval: | 1.7% | |
| Commercial: | 1.5% | |
| Low Doc: | 1.0% | |
| Other: | 1.8% | |
| Total Application Types Found: 18 | ||
Average age: 37
Oldest age: 84
Youngest age: 20
The numbers below represent the average income of Canadians living in London who have applied for a home loan using the pre-approval application on CanEquity's web site.
| Average annual gross income for | |
|---|---|
| mortgage applicants in London: | $53,164.51 |
| applicants within all of Canada: | $59,498.47 |
| Difference: | ($6,333.95) |
| mortgage co-applicants in London: | $40,953.31 |
| co-applicants within all of Canada: | $42,403.13 |
| Difference: | ($1,449.82) |
The following depicts the residential status of people living in London who have applied for a loan using the online application located at the CanEquity web site.
| Residential Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Rent: | 47.5% | |
| Own: | 42.1% | |
| Other: | 1.8% | |
| No Comment: | 2.9% | |
| Live with parents: | 5.6% |
The following information represents the marital status of applicants from London, Ontario using the mortgage application found on the CanEquity Mortgage web site. 60% of the mortgage applicants are living together with someone, while only 38% are not married or separated.
| Marital Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Married: | 44.8% | |
| Single: | 29.2% | |
| Common-law: | 15.8% | |
| Separated: | 5.6% | |
| Divorced: | 3.8% | |
| Widowed: | 0.9% |
