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: | * 14.63% | * 0.07% |
| 2009: | 24.88% | 0.11% |
| 2008: | 11.71% | 0.05% |
| 2007: | 9.76% | 0.04% |
| 2006: | 7.80% | 0.04% |
| 2005: | 7.32% | 0.03% |
| 2004: | 8.29% | 0.04% |
| 2003: | 7.80% | 0.04% |
| 2002: | 7.80% | 0.04% |
The 6-year bar graph below represents the individual monthly volume history for Internet mortgage pre-approval applications originating from Prince Edward Island.
The following bar graph displays 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 30.24% while our slowest is the fourth quarter (represented by the red bars) with 16.10%.
| Rank | Month | Percentage of Inquiries | |
|---|---|---|---|
| 1: | January: | 13.2% | |
| 2: | June: | 10.7% | |
| 3: | April: | 10.2% | |
| 4: | May: | 8.8% | |
| 5: | February: | 8.8% | |
| 6: | July: | 8.3% | |
| 7: | March: | 8.3% | |
| 8: | September: | 8.3% | |
| 9: | August: | 7.3% | |
| 10: | October: | 6.3% | |
| 11: | November: | 4.9% | |
| 12: | December: | 4.9% |
The information listed below plots the busy days for Internet applications that were received by the CanEquity web site. Each day is a total combined representation of the last 5 years of all occurrences of that day. In Prince Edward Island, the day with the most volume, generating 19.51% of all inquiries, is Thursday. In comparison, Sunday's are the slowest day with only 7.80% of all inquiries.
| Rank | Day of the Week | Percentage of Inquiries | |
|---|---|---|---|
| 1: | Thursday: | 19.5% | |
| 2: | Monday: | 17.1% | |
| 3: | Tuesday: | 16.1% | |
| 4: | Friday: | 14.6% | |
| 5: | Wednesday: | 13.2% | |
| 6: | Saturday: | 11.7% | |
| 7: | Sunday: | 7.8% |
Mortgage inquiries are received 24 hours a day from the CanEquity web site. The graph shown below indicates the peak hours over a 24-hour period. The data is taken from all days of all years. Only 39.0% of all mortgages are received before noon, while 60.5% arrive in the afternoon.
| Time Period (24 Hour) | Percentage of Inquiries |
|---|---|
| 00:00 to 00:59: | 0.5% |
| 03:00 to 03:59: | 1.5% |
| 04:00 to 04:59: | 2.0% |
| 05:00 to 05:59: | 2.4% |
| 06:00 to 06:59: | 4.9% |
| 07:00 to 07:59: | 3.4% |
| 08:00 to 08:59: | 4.9% |
| 09:00 to 09:59: | 6.3% |
| 10:00 to 10:59: | 7.3% |
| 11:00 to 11:59: | 6.3% |
| 12:00 to 12:59: | 6.3% |
| 13:00 to 13:59: | 5.9% |
| 14:00 to 14:59: | 5.9% |
| 15:00 to 15:59: | 4.9% |
| 16:00 to 16:59: | 8.8% |
| 17:00 to 17:59: | 7.3% |
| 18:00 to 18:59: | 10.2% |
| 19:00 to 19:59: | 4.9% |
| 20:00 to 20:59: | 3.4% |
| 21:00 to 21:59: | 2.0% |
| 22:00 to 22:59: | 1.0% |
| Online Mortgage Origination for the Province of | Percentage in Comparison |
|---|---|
| Alberta: | 4642.4% |
| British Columbia: | 2367.3% |
| Manitoba: | 462.9% |
| New Brunswick: | 472.7% |
| Newfoundland and Labrador: | 252.7% |
| Nova Scotia: | 653.2% |
| Northwest Territories: | 69.8% |
| Nunavut: | 20.0% |
| Ontario: | 10660.0% |
| Prince Edward Island: | 100.0% |
| Quebec: | 903.4% |
| Saskatchewan: | 1104.4% |
| Yukon Territories: | 60.5% |
| City or Town within the province of Prince Edward Island | Percentage of Inquiries | Average Age | Average Income | Average Co-Income | Average Loan | |
|---|---|---|---|---|---|---|
| 001: | CHARLOTTETOWN, PE | 35.122% | 37 | $43,789.25 | $30,232.06 | $119,219.09 |
| 002: | SUMMERSIDE, PE | 8.780% | 38 | $36,311.11 | $24,571.43 | $76,056.25 |
| 003: | STRATFORD, PE | 6.341% | 37 | $45,791.67 | $43,000.00 | $108,500.00 |
| 004: | CORNWALL, PE | 5.854% | 40 | $45,833.33 | $25,750.00 | $90,710.80 |
| 005: | MONTAGUE, PE | 4.390% | 42 | $39,579.22 | $33,922.25 | $91,125.00 |
| 006: | O'LEARY, PE | 3.902% | 45 | $38,250.00 | $15,000.00 | $77,166.67 |
| 007: | SOURIS, PE | 3.902% | 39 | $38,256.14 | $29,926.67 | $79,875.00 |
| 008: | KINKORA, PE | 3.415% | 30 | $36,171.43 | $33,250.00 | $122,414.29 |
| 009: | GEORGETOWN, PE | 2.439% | 34 | $28,000.00 | n/a | $54,750.00 |
| 010: | KENSINGTON, PE | 2.439% | 35 | $43,695.40 | n/a | $121,440.00 |
| 011: | YORK, PE | 1.463% | 35 | $35,973.33 | n/a | $118,333.33 |
| 012: | TIGNISH, PE | 1.463% | 30 | $36,666.67 | n/a | $67,333.33 |
| 013: | CARDIGAN, PE | 1.463% | 37 | $30,166.67 | n/a | $92,000.00 |
| 014: | MISCOUCHE, PE | 1.463% | 29 | $21,466.67 | n/a | $78,966.67 |
| 015: | ELLERSLIE, PE | 0.976% | 27 | $31,500.00 | $38,200.00 | $83,600.00 |
| 016: | MURRAY HARBOUR, PE | 0.976% | 45 | $50,119.50 | $47,500.00 | $59,900.00 |
| 017: | NORTH WILTSHIRE, PE | 0.976% | 34 | $34,500.00 | $29,500.00 | $43,000.00 |
| 018: | MOUNT STEWART, PE | 0.976% | 31 | $36,520.50 | $41,000.00 | $90,000.00 |
| 019: | WELLINGTON STATION, PE | 0.976% | 38 | $40,000.00 | n/a | $93,250.00 |
| 020: | NEW LONDON, PE | 0.976% | 35 | $28,000.00 | n/a | $50,000.00 |
| 021: | SLEMON PARK, PE | 0.976% | 49 | $55,640.00 | n/a | $89,900.00 |
| 022: | VERNON BRIDGE, PE | 0.976% | 38 | $20,500.00 | n/a | $76,500.00 |
| 023: | TYNE VALLEY, PE | 0.976% | 38 | n/a | n/a | $85,000.00 |
| Mortgage Application Form Type | Percentage of Inquiries | |
|---|---|---|
| First-time Buyer: | 23.9% | |
| Qualification: | 21.5% | |
| Refinance: | 21.5% | |
| No Money Down: | 16.6% | |
| Renewal: | 6.8% | |
| Purchase: | 4.4% | |
| Pre-approval: | 1.5% | |
| Equity Mortgage: | 1.5% | |
| Low Doc: | 1.0% | |
| Other: | 1.5% | |
| Total Application Types Found: 12 | ||
Average age: 37
Oldest age: 67
Youngest age: 20
The following depicts the average income of applicants living in Prince Edward Island who have applied for a home loan using CanEquity's online mortgage application.
| Average annual gross income for | |
|---|---|
| mortgage applicants in Prince Edward Island: | $39,764.56 |
| applicants within all of Canada: | $58,901.05 |
| Difference: | ($19,136.49) |
| mortgage co-applicants in Prince Edward Island: | $31,083.73 |
| co-applicants within all of Canada: | $41,545.22 |
| Difference: | ($10,461.49) |
The pie chart below shows the residential status of people living in Prince Edward Island who have submitted an inquiry using the pre-approval application on the CanEquity Mortgage web site.
| Residential Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Rent: | 49.3% | |
| Own: | 37.1% | |
| Other: | 4.4% | |
| No Comment: | 5.9% | |
| Live with parents: | 3.4% |
The pie chart below represents the marital status of applicants from Prince Edward Island using the mortgage application located at the CanEquity web site. In Prince Edward Island, approximately 73% of the mortgage applicants are living together with someone, while only 24% are not married or separated.
| Marital Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Married: | 54.1% | |
| Common-law: | 19.5% | |
| Single: | 16.6% | |
| Separated: | 5.4% | |
| Divorced: | 2.9% | |
| Widowed: | 1.5% |
