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Medicine Hat Mortgage Information

Average Mortgage Loan in Medicine Hat: $192,167

Busy Months for Online Applications within Medicine Hat

The graph below shows the volumes of online applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from Medicine Hat happen to occur during our first quarter (represented by the brown bars) with 29.94% while our slowest is the fourth quarter (represented by the red bars) with 17.96%.

Busy Months Report for Medicine Hat Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 March: 12.6%
2 May: 10.8%
3 July: 10.8%
4 September: 10.8%
5 January: 10.2%
6 June: 9.6%
RankMonth Percentage of Applications
7 November: 8.4%
8 April: 7.8%
9 February: 7.2%
10 October: 6.0%
11 December: 3.6%
12 August: 2.4%

Busy Days for Mortgage Applications within Medicine Hat

The information below displays the busy days for online inquiries that were received by the Super Brokers web site. A combined total of all occurrences of each day are represented for the past 5 years. In Medicine Hat, the day with the most volume, having more than 21.56% of all submissions, is Tuesday. In comparison, Saturday's are the slowest day with only 6.59% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Tuesday: 21.6%
2 Wednesday: 16.8%
3 Thursday: 16.8%
4 Monday: 13.2%
5 Sunday: 13.2%
6 Friday: 12.0%
7 Saturday: 6.6%
Busy Days Report for Medicine Hat Mortgages

Peak Hours for Mortgages within Medicine Hat

Applications are received 24 hours a day via the Mortgage Super Brokers web site. The following represents the peak hours within a 24-hour period. The data is taken from all days of all years. Only 17.4% of all mortgages are received before noon, while 79.6% arrive in the afternoon.


Peak Hours Graph for Mortgages in Medicine Hat
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 1.8%
1AM 01:00 to 01:59: 0%
2AM 02:00 to 02:59: 1.2%
3AM 03:00 to 03:59: 0%
4AM 04:00 to 04:59: 1.2%
5AM 05:00 to 05:59: 0%
6AM 06:00 to 06:59: 0%
7AM 07:00 to 07:59: 1.2%
8AM 08:00 to 08:59: 1.8%
9AM 09:00 to 09:59: 4.2%
10AM 10:00 to 10:59: 4.8%
11AM 11:00 to 11:59: 4.2%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 7.2%
1PM 13:00 to 13:59: 9.0%
2PM 14:00 to 14:59: 7.2%
3PM 15:00 to 15:59: 6.0%
4PM 16:00 to 16:59: 4.2%
5PM 17:00 to 17:59: 6.0%
6PM 18:00 to 18:59: 2.4%
7PM 19:00 to 19:59: 6.6%
8PM 20:00 to 20:59: 9.6%
9PM 21:00 to 21:59: 7.8%
10PM 22:00 to 22:59: 8.4%
11PM 23:00 to 23:59: 5.4%

Alberta Mortgage Originations Compared to all other Provinces and Territories


Online Mortgage Origination for the Province or Territory of Percentage of Applications
Alberta: 21.07%
British Columbia: 10.40%
Manitoba: 2.00%
New Brunswick: 2.53%
Newfoundland and Labrador: 1.30%
Nova Scotia: 3.29%
Northwest Territories: 0.49%
Nunavut: 0.10%
Ontario: 47.31%
Prince Edward Island: 0.51%
Quebec: 3.94%
Saskatchewan: 5.04%
Yukon: 0.47%

How Medicine Hat Ranks in Alberta for Mortgage Business

The following table lists how Medicine Hat ranks for mortgage applications sent to our website. The data collected is over a 7-year time frame. A location has to have a minimum of three applications to make the list. To find more information, simply click on a location.

RankLocation Contribution
5LETHBRIDGE, AB 0.420%
6SHERWOOD PARK, AB 0.380%
7GRANDE PRAIRIE, AB 0.367%
8ST ALBERT, AB 0.311%
9AIRDRIE, AB 0.296%
10MEDICINE HAT, AB 0.289%
11OKOTOKS, AB 0.265%
12SPRUCE GROVE, AB 0.228%
13BROOKS, AB 0.197%
14COLD LAKE, AB 0.192%
15WHITECOURT, AB 0.149%

Types of Mortgage Inquiries Received from Medicine Hat


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Mortgage Pre-approval: 22.2%
First-time Home Buyer: 16.8%
New Home Purchase: 15.6%
No Money Down Mortgage (discontinued): 15.0%
Refinance / Debt Consolidation: 13.2%
Mortgage Renewal: 9.6%
Other: 7.8%
 
Total Application Types Found: 13

Age Demographics for Medicine Hat Mortgage Applicants

Average age: 35
Oldest age: 71
Youngest age: 20


Incomes for Medicine Hat Mortgage Applicants

The figures below represent the average income of applicants living in Medicine Hat who have applied for a loan using Mortgage Super Brokers' pre-approval application.

Average annual gross income for
mortgage applicants in Medicine Hat: $58,341.58
applicants within all of Canada: $60,852.54
Difference: ($2,510.96)
  
mortgage co-applicants in Medicine Hat: $47,659.68
co-applicants within all of Canada: $43,965.51
Difference: $3,694.17

Note: Commercial Mortgages were not included for this survey, only residential mortgage loan amounts from Medicine Hat, Alberta were used.


Last mortgage report update for Medicine Hat: Friday, July 1, 2016
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