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Surrey Mortgage Information

Average Mortgage Loan in Surrey: $250,906

Busy Months for Mortgages Received within Surrey

The bar graph below shows the volumes of applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from Surrey mostly occur during our first quarter (represented by the brown bars) with 34.41% while our slowest is the fourth quarter (represented by the red bars) with 15.71%.

Busy Months Report for Surrey Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 April: 12.7%
2 February: 11.7%
3 March: 11.7%
4 January: 11.0%
5 May: 10.7%
6 June: 7.7%
RankMonth Percentage of Applications
7 July: 7.0%
8 August: 6.7%
9 October: 6.5%
10 November: 5.5%
11 September: 5.0%
12 December: 3.7%

Busy Days for Mortgages within Surrey

The information below plots the busy days for online applications that were received by Super Brokers. Each day represents a combined total of all occurrences of that day in the past 5 years. In Surrey the busiest day, with 19.20% of all inquiries, is Monday. In comparison, Saturday's are the slowest day with only 8.73% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Monday: 19.2%
2 Thursday: 18.4%
3 Wednesday: 17.0%
4 Tuesday: 14.2%
5 Friday: 13.5%
6 Sunday: 9.0%
7 Saturday: 8.7%
Busy Days Report for Surrey Mortgages

Peak Hours for Mortgages within Surrey

Mortgage inquiries are received 24 hours a day from the Super Brokers' web site. The statistics shown below represents the rush hours within a 24-hour period. The data is taken from all days of all years. Only 20.0% of all mortgages are received during the morning, while 71.8% arrive in the afternoon.


Peak Hours Graph for Mortgages in Surrey
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 4.2%
1AM 01:00 to 01:59: 3.5%
2AM 02:00 to 02:59: 0.5%
3AM 03:00 to 03:59: 0.5%
4AM 04:00 to 04:59: 1.0%
5AM 05:00 to 05:59: 0.5%
6AM 06:00 to 06:59: 0%
7AM 07:00 to 07:59: 1.0%
8AM 08:00 to 08:59: 1.5%
9AM 09:00 to 09:59: 2.2%
10AM 10:00 to 10:59: 6.5%
11AM 11:00 to 11:59: 6.7%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 7.7%
1PM 13:00 to 13:59: 6.0%
2PM 14:00 to 14:59: 6.7%
3PM 15:00 to 15:59: 8.0%
4PM 16:00 to 16:59: 6.5%
5PM 17:00 to 17:59: 4.0%
6PM 18:00 to 18:59: 6.2%
7PM 19:00 to 19:59: 4.2%
8PM 20:00 to 20:59: 6.2%
9PM 21:00 to 21:59: 6.0%
10PM 22:00 to 22:59: 6.0%
11PM 23:00 to 23:59: 4.2%

British Columbia Mortgage Originations Compared to all other Provinces and Territories


Online Mortgage Origination for the Province or Territory of Percentage of Applications
Alberta: 21.18%
British Columbia: 10.35%
Manitoba: 2.00%
New Brunswick: 2.52%
Newfoundland and Labrador: 1.30%
Nova Scotia: 3.29%
Northwest Territories: 0.48%
Nunavut: 0.09%
Ontario: 47.21%
Prince Edward Island: 0.50%
Quebec: 3.93%
Saskatchewan: 5.06%
Yukon: 0.47%

How Surrey Ranks in British Columbia for Mortgage Business

The following table lists how Surrey 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 0.911%
2SURREY, BC 0.692%
3VICTORIA, BC 0.612%
4BURNABY, BC 0.331%
5KELOWNA, BC 0.319%
6PRINCE GEORGE, BC 0.290%
7ABBOTSFORD, BC 0.281%

Types of Mortgage Inquiries Received from Surrey


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Mortgage Pre-approval: 21.2%
Refinance / Debt Consolidation: 16.5%
First-time Home Buyer: 14.2%
Mortgage Renewal: 14.2%
New Home Purchase: 13.5%
No Money Down Mortgage (discontinued): 12.5%
Other: 7.7%
 
Total Application Types Found: 16

Age Demographics for Surrey Mortgage Applicants

Average age: 39
Oldest age: 71
Youngest age: 21


Incomes for Surrey Mortgage Applicants

The following depicts the average income of applicants living in Surrey who have applied for a mortgage loan using Mortgage Super Brokers' pre-approval application.

Average annual gross income for
mortgage applicants in Surrey: $61,638.31
applicants within all of Canada: $60,871.80
Difference: $766.51
  
mortgage co-applicants in Surrey: $45,932.46
co-applicants within all of Canada: $44,075.54
Difference: $1,856.92

Note: Commercial loan amounts were not included for this report, only residential mortgage loan amounts from Surrey, British Columbia were used.


Last mortgage report update for Surrey: Thursday, August 13, 2015
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