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Burnaby Mortgage Information

Average Mortgage Loan in Burnaby: $271,985

Busy Months for Online Applications within Burnaby

This bar graph depicts the volumes of Web applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from Burnaby occur during our first quarter (represented by the brown bars) with 30.53% while our slowest is the fourth quarter (represented by the red bars) with 14.74%.

Busy Months Report for Burnaby Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 May: 12.1%
2 March: 12.1%
3 August: 12.1%
4 February: 9.5%
5 June: 9.5%
6 January: 8.9%
RankMonth Percentage of Applications
7 April: 8.9%
8 October: 8.9%
9 September: 8.9%
10 November: 3.2%
11 July: 3.2%
12 December: 2.6%

Busy Days for Mortgage Applications within Burnaby

The information below illustrates the busy days for mortgage applications that were received by Super Brokers. Each day is a representation of the combined 6-year total of all instances of that day. In Burnaby the busiest day, with 18.95% of all inquiries, is Monday. In comparison, Friday's are the slowest day with only 8.42% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Monday: 18.9%
2 Tuesday: 18.9%
3 Wednesday: 16.8%
4 Thursday: 13.2%
5 Sunday: 13.2%
6 Saturday: 10.5%
7 Friday: 8.4%
Busy Days Report for Burnaby Mortgages

Peak Hours for Mortgages within Burnaby

Mortgage inquiries are received 24 hours a day from the Super Brokers' web site. The following represents the rush hours in the day. The data is taken from all days of all years. Only 15.3% of all mortgages are received before noon, while 75.8% arrive in the afternoon.


Peak Hours Graph for Mortgages in Burnaby
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 5.3%
1AM 01:00 to 01:59: 2.6%
2AM 02:00 to 02:59: 1.1%
3AM 03:00 to 03:59: 0%
4AM 04:00 to 04:59: 0%
5AM 05:00 to 05:59: 0.5%
6AM 06:00 to 06:59: 1.6%
7AM 07:00 to 07:59: 0.5%
8AM 08:00 to 08:59: 0.5%
9AM 09:00 to 09:59: 2.1%
10AM 10:00 to 10:59: 5.3%
11AM 11:00 to 11:59: 4.7%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 6.8%
1PM 13:00 to 13:59: 6.8%
2PM 14:00 to 14:59: 9.5%
3PM 15:00 to 15:59: 5.8%
4PM 16:00 to 16:59: 8.4%
5PM 17:00 to 17:59: 10.0%
6PM 18:00 to 18:59: 5.8%
7PM 19:00 to 19:59: 4.7%
8PM 20:00 to 20:59: 4.2%
9PM 21:00 to 21:59: 4.2%
10PM 22:00 to 22:59: 4.7%
11PM 23:00 to 23:59: 4.7%

British Columbia Mortgage Originations Compared to all other Provinces and Territories


Online Mortgage Origination for the Province or Territory of Percentage of Applications
Alberta: 21.16%
British Columbia: 10.37%
Manitoba: 1.99%
New Brunswick: 2.51%
Newfoundland and Labrador: 1.29%
Nova Scotia: 3.29%
Northwest Territories: 0.49%
Nunavut: 0.10%
Ontario: 47.28%
Prince Edward Island: 0.50%
Quebec: 3.94%
Saskatchewan: 5.05%
Yukon: 0.47%

How Burnaby Ranks in British Columbia for Mortgage Business

The following table lists how Burnaby 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
1VANCOUVER, BC 0.915%
2SURREY, BC 0.691%
3VICTORIA, BC 0.615%
4BURNABY, BC 0.329%
5KELOWNA, BC 0.319%
6PRINCE GEORGE, BC 0.289%
7ABBOTSFORD, BC 0.281%
8RICHMOND, BC 0.265%
9CHILLIWACK, BC 0.263%

Types of Mortgage Inquiries Received from Burnaby


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Mortgage Pre-approval: 25.8%
First-time Home Buyer: 24.7%
Mortgage Renewal: 14.2%
New Home Purchase: 12.1%
No Money Down Mortgage (discontinued): 8.4%
Refinance / Debt Consolidation: 7.9%
Other: 6.9%
 
Total Application Types Found: 13

Age Demographics for Burnaby Applicants

Average age: 37
Oldest age: 63
Youngest age: 21


Incomes for Burnaby Applicants

The amounts below are the average income of Canadians living in Burnaby who have applied for a mortgage loan using the pre-approval application on the Mortgage Super Brokers' web site.

Average annual gross income for
mortgage applicants in Burnaby: $60,885.99
applicants within all of Canada: $60,841.69
Difference: $44.31
  
mortgage co-applicants in Burnaby: $46,038.14
co-applicants within all of Canada: $44,024.91
Difference: $2,013.23

Note: Commercial loans were not included for this survey, only residential mortgage loans were used.


Last mortgage report update for Burnaby: Wednesday, May 20, 2015
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