Canadian Licensing Info: Alberta Mortgage #MW-0511205,
BC Mortgage #X028169, FSCO (Ontario) #10315,
Saskatchewan Mortgage #315872, and all other provinces.
 
PRESENTED BY

The Mortgage Group®

Canada | BC | AB | SK | MB | ON | QC | NL | PE | NS | NB | YT | NU | NT

Victoria Mortgage Information

Average Mortgage Loan in Victoria: $254,600

Busy Months for Mortgages Received within Victoria

The following displays the volumes of Internet applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from Victoria mostly occur during our first quarter (represented by the brown bars) with 32.39% while our slowest is the fourth quarter (represented by the red bars) with 15.77%.

Busy Months Report for Victoria Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 February: 13.0%
2 January: 11.0%
3 April: 11.0%
4 May: 10.1%
5 June: 9.9%
6 March: 8.4%
RankMonth Percentage of Applications
7 September: 7.9%
8 August: 6.8%
9 July: 6.2%
10 October: 6.2%
11 November: 5.9%
12 December: 3.7%

Busy Days for Online Mortgages within Victoria

The data below compares the busy days for Internet mortgage applications that were received by the Super Brokers web site. Each day represents a combined total of all occurrences of that day in the past 5 years. In Victoria the busiest day of the week, with 20.00% of all submissions, is Tuesday. In comparison, Saturday's are the slowest day with only 9.58% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Tuesday: 20.0%
2 Monday: 18.9%
3 Thursday: 15.5%
4 Wednesday: 13.8%
5 Sunday: 11.8%
6 Friday: 10.4%
7 Saturday: 9.6%
Busy Days Report for Victoria Mortgages

Peak Hours for Based Mortgages within Victoria

In Victoria, applications are received 24 hours a day on the Mortgage Super Brokers web site. The information shown below represents the busy hours within a 24-hour period. The data is taken from all days of all years.


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: 2.3%
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: 5.4%
10AM 10:00 to 10:59: 3.9%
11AM 11:00 to 11:59: 7.9%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 7.6%
1PM 13:00 to 13:59: 6.5%
2PM 14:00 to 14:59: 5.6%
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: 4.5%
7PM 19:00 to 19:59: 8.2%
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: 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 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 0.911%
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%
8RICHMOND, BC 0.264%

Types of Mortgage Inquiries Received from Victoria


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Mortgage Pre-approval: 24.2%
No Money Down Mortgage (discontinued): 14.9%
First-time Home Buyer: 14.4%
Mortgage Renewal: 13.5%
New Home Purchase: 13.2%
Refinance / Debt Consolidation: 10.7%
Other: 9%
 
Total Application Types Found: 15

Age Demographics for Victoria Mortgages

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


Incomes for Victoria Mortgages

The information below represents the average income of Canadians living in Victoria who have submitted a mortgage inquiry using the online application located at the Mortgage Super Brokers' web site.

Average annual gross income for
mortgage applicants in Victoria: $62,755.70
applicants within all of Canada: $60,871.80
Difference: $1,883.90
  
mortgage co-applicants in Victoria: $44,604.47
co-applicants within all of Canada: $44,075.54
Difference: $528.94

Note: Commercial loan amounts were not included for this report, only home loans from Victoria, British Columbia were used.


Last mortgage report update for Victoria: Thursday, August 13, 2015
Mortgage Calculator
 
Mortgage Rates
Wait! Before you apply for a mortgage through your bank, make sure you aren't leaving money on the table. Compare the best mortgage rates in Canada right now. It'll only take a minute, but you'll be surprised just how much you can save!
Mortgage Rates
 
Our 5 Year Fixed Rate Term
Starting at
2.49%*

Our five year mortgage term beats the banks' posted rate by a fair margin, so why fight for the best mortgage rates when you don't have to?