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Burnaby Mortgage Information

Average Mortgage Loan in Burnaby: $270,620

Busy Months for Mortgages Received within Burnaby

This bar graph shows the volumes of mortgage applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from Burnaby seem to occur during our second quarter (represented by the green bars) with 30.89% while our slowest is the fourth quarter (represented by the red bars) with 14.66%.

Busy Months Report for Burnaby Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 May: 12.0%
2 August: 12.0%
3 March: 11.5%
4 February: 9.9%
5 April: 9.4%
6 June: 9.4%
RankMonth Percentage of Applications
7 January: 8.9%
8 October: 8.9%
9 September: 8.9%
10 November: 3.1%
11 July: 3.1%
12 December: 2.6%

Busy Days for Mortgage Applications within Burnaby

The bar graph listed below compares the busy days for mortgage inquiries that were received by Super Brokers. Each day represents a combined total of all occurrences of that day in the past 5 years. In Burnaby, the day with the most volume, having more than 18.85% of all submissions, is Tuesday. In comparison, Friday's are the slowest day with only 8.38% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Tuesday: 18.9%
2 Monday: 18.3%
3 Wednesday: 17.3%
4 Sunday: 13.6%
5 Thursday: 13.1%
6 Saturday: 10.5%
7 Friday: 8.4%
Busy Days Report for Burnaby Mortgages

Peak Hours for Mortgage Applicants within Burnaby

Inquiries are received 24 hours a day via our web site. The graph shown below represents the busy hours in the day. The data is taken from all days of all years. Only 15.2% of all mortgages are received during the morning, while 75.9% arrive in the afternoon.


Peak Hours Graph for Mortgages in Burnaby
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 5.2%
1AM 01:00 to 01:59: 2.6%
2AM 02:00 to 02:59: 1.0%
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: 5.2%
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: 6.3%
2PM 14:00 to 14:59: 9.4%
3PM 15:00 to 15:59: 5.8%
4PM 16:00 to 16:59: 8.9%
5PM 17:00 to 17:59: 10.5%
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: 21.07%
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 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 0.913%
2SURREY, BC 0.693%
3VICTORIA, BC 0.617%
4BURNABY, BC 0.330%
5KELOWNA, BC 0.318%
6PRINCE GEORGE, BC 0.290%
7ABBOTSFORD, BC 0.284%
8RICHMOND, BC 0.266%
9CHILLIWACK, BC 0.265%

Types of Mortgage Inquiries Received from Burnaby


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Mortgage Pre-approval: 25.7%
First-time Home Buyer: 24.6%
Mortgage Renewal: 14.1%
New Home Purchase: 12.6%
No Money Down Mortgage (discontinued): 8.4%
Refinance / Debt Consolidation: 7.9%
Other: 6.6%
 
Total Application Types Found: 13

Age Demographics for Burnaby Mortgage Applicants

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


Incomes for Burnaby Mortgage Applicants

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

Average annual gross income for
mortgage applicants in Burnaby: $60,460.39
applicants within all of Canada: $60,852.54
Difference: ($392.15)
  
mortgage co-applicants in Burnaby: $45,726.30
co-applicants within all of Canada: $43,965.51
Difference: $1,760.79

Note: Commercial loans were not included for this section, only residential mortgages were used.


Last mortgage report update for Burnaby: Friday, July 1, 2016
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Below is a listing of our most popular mortgage product inquiries made using our online mortgage application for clients in Burnaby.

Mortgage Product Type Inquiries
Mortgage Pre-approval25.65%
First-time Home Buyer24.61%
Mortgage Renewal14.14%
New Purchase12.57%
No Money Down discontinued8.38%
Refinance/Consolidate Debt7.85%
Other6.8%
 
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British Columbia