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New Westminster Mortgage Information

Average Mortgage Loan in New Westminster: $234,518

Busy Months for Mortgages Originating within New Westminster

The bar graph below depicts the volumes of Web applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from New Westminster mostly occur during our first quarter (represented by the brown bars) with 27.17% while our slowest is the fourth quarter (represented by the red bars) with 22.83%.

Busy Months Report for New Westminster Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 March: 14.1%
2 August: 10.9%
3 May: 9.8%
4 November: 8.7%
5 December: 8.7%
6 April: 8.7%
RankMonth Percentage of Applications
7 September: 8.7%
8 January: 7.6%
9 June: 7.6%
10 February: 5.4%
11 October: 5.4%
12 July: 4.3%

Busy Days for Mortgages Originating within New Westminster

The bar graph below shows the busy days for Internet mortgage applications that were received by our web site. A combined total of all occurrences of each day are represented for the past 5 years. In New Westminster, the day with the most volume, having more than 20.65% of all inquiries, is Wednesday. In comparison, Saturday's are the slowest day with only 6.52% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Wednesday: 20.6%
2 Tuesday: 19.6%
3 Thursday: 18.5%
4 Monday: 14.1%
5 Sunday: 10.9%
6 Friday: 9.8%
7 Saturday: 6.5%
Busy Days Report for New Westminster Mortgages

Peak Hours for Mortgage Applicants within New Westminster

Mortgage applications are received 24 hours a day from the Super Brokers web site. The graph shown below represents the peak hours in the day. The data is taken from all days of all years.


Peak Hours Graph for Mortgages in New Westminster
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 3.3%
1AM 01:00 to 01:59: 5.4%
2AM 02:00 to 02:59: 0%
3AM 03:00 to 03:59: 0%
4AM 04:00 to 04:59: 2.2%
5AM 05:00 to 05:59: 0%
6AM 06:00 to 06:59: 2.2%
7AM 07:00 to 07:59: 0%
8AM 08:00 to 08:59: 3.3%
9AM 09:00 to 09:59: 3.3%
10AM 10:00 to 10:59: 6.5%
11AM 11:00 to 11:59: 3.3%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 5.4%
1PM 13:00 to 13:59: 4.3%
2PM 14:00 to 14:59: 9.8%
3PM 15:00 to 15:59: 5.4%
4PM 16:00 to 16:59: 3.3%
5PM 17:00 to 17:59: 6.5%
6PM 18:00 to 18:59: 5.4%
7PM 19:00 to 19:59: 8.7%
8PM 20:00 to 20:59: 6.5%
9PM 21:00 to 21:59: 4.3%
10PM 22:00 to 22:59: 8.7%
11PM 23:00 to 23:59: 2.2%

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 New Westminster Ranks in British Columbia for Mortgage Business

The following table lists how New Westminster 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
13NORTH VANCOUVER, BC 0.220%
14COQUITLAM, BC 0.218%
15NANAIMO, BC 0.218%
16MAPLE RIDGE, BC 0.176%
17DELTA, BC 0.168%
18NEW WESTMINSTER, BC 0.159%
19VERNON, BC 0.156%
20DAWSON CREEK, BC 0.112%
21CAMPBELL RIVER, BC 0.111%
22PORT ALBERNI, BC 0.099%
23QUESNEL, BC 0.097%

Types of Mortgage Inquiries Received from New Westminster


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Mortgage Pre-approval: 26.1%
First-time Home Buyer: 16.3%
Refinance / Debt Consolidation: 16.3%
No Money Down Mortgage (discontinued): 13.0%
Mortgage Renewal: 10.9%
New Home Purchase: 7.6%
Other: 9.9%
 
Total Application Types Found: 11

Age Demographics for New Westminster Mortgage Applicants

Average age: 39
Oldest age: 74
Youngest age: 21


Incomes for New Westminster Mortgage Applicants

The following figures show the average income of people living in New Westminster who have applied for a loan using Mortgage Super Brokers' online mortgage application.

Average annual gross income for
mortgage applicants in New Westminster: $58,721.69
applicants within all of Canada: $60,852.54
Difference: ($2,130.85)
  
mortgage co-applicants in New Westminster: $46,071.22
co-applicants within all of Canada: $43,965.51
Difference: $2,105.71

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


Last mortgage report update for New Westminster: Friday, July 1, 2016
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