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Victoria Mortgage Information

Average Mortgage Loan in Victoria: $256,122

Busy Months for Mortgages within Victoria

This graph shows the volumes of online mortgage applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from Victoria occur during our first quarter (represented by the brown bars) with 32.49% while our slowest is the fourth quarter (represented by the red bars) with 15.69%.

Busy Months Report for Victoria Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 February: 13.2%
2 January: 10.6%
3 April: 10.6%
4 May: 10.4%
5 June: 10.1%
6 March: 8.7%
RankMonth Percentage of Applications
7 September: 7.8%
8 August: 6.7%
9 July: 6.2%
10 October: 6.2%
11 November: 5.9%
12 December: 3.6%

Busy Days for Mortgage Inquiries within Victoria

The bar graph listed below plots the busy days for Internet applications that were received by the Super Brokers web site. Each day is a total combined representation of the last 5 years of all occurrences of that day. In Victoria the busiest day, with approximately 20.17% of all inquiries, is Tuesday. In comparison, Saturday's are the slowest day with only 9.52% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Tuesday: 20.2%
2 Monday: 19.1%
3 Thursday: 15.1%
4 Wednesday: 13.7%
5 Sunday: 11.8%
6 Friday: 10.6%
7 Saturday: 9.5%
Busy Days Report for Victoria Mortgages

Peak Hours for Mortgage Applicants within Victoria

In Victoria, inquiries are received 24 hours a day via the Super Brokers web site. The graph shown below indicates the busy hours over a 24-hour period. The data is taken from all days of all years. Only 21.0% of all mortgages are received before noon, while 72.5% arrive in the afternoon.


Peak Hours Graph for Mortgages in Victoria
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 3.1%
1AM 01:00 to 01:59: 2.2%
2AM 02:00 to 02:59: 1.1%
3AM 03:00 to 03:59: 0.3%
4AM 04:00 to 04:59: 0%
5AM 05:00 to 05:59: 0.3%
6AM 06:00 to 06:59: 1.1%
7AM 07:00 to 07:59: 0.6%
8AM 08:00 to 08:59: 1.4%
9AM 09:00 to 09:59: 5.6%
10AM 10:00 to 10:59: 3.9%
11AM 11:00 to 11:59: 7.8%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 7.8%
1PM 13:00 to 13:59: 6.7%
2PM 14:00 to 14:59: 5.3%
3PM 15:00 to 15:59: 7.0%
4PM 16:00 to 16:59: 7.3%
5PM 17:00 to 17:59: 5.9%
6PM 18:00 to 18:59: 4.8%
7PM 19:00 to 19:59: 8.1%
8PM 20:00 to 20:59: 6.2%
9PM 21:00 to 21:59: 3.9%
10PM 22:00 to 22:59: 5.6%
11PM 23:00 to 23:59: 3.9%

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 Victoria Ranks in British Columbia for Mortgage Business

The following table lists how Victoria 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%

Types of Mortgage Inquiries Received from Victoria


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Mortgage Pre-approval: 24.6%
No Money Down Mortgage (discontinued): 14.8%
First-time Home Buyer: 14.3%
Mortgage Renewal: 13.2%
New Home Purchase: 13.2%
Refinance / Debt Consolidation: 10.9%
Other: 9%
 
Total Application Types Found: 15

Age Demographics for Victoria Originated Mortgages

Average age: 40
Oldest age: 82
Youngest age: 20


Incomes for Victoria Originated Mortgages

The figures below represent the average income of Canadians living in Victoria who have submitted an inquiry using the pre-approval application on Mortgage Super Brokers' web site.

Average annual gross income for
mortgage applicants in Victoria: $62,874.44
applicants within all of Canada: $60,852.54
Difference: $2,021.90
  
mortgage co-applicants in Victoria: $44,587.12
co-applicants within all of Canada: $43,965.51
Difference: $621.60

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


Last mortgage report update for Victoria: Friday, July 1, 2016
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