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Richmond Hill Mortgage Information

Average Mortgage Loan in Richmond Hill: $232,508

Busy Months for Mortgages Received within Richmond Hill

The graph below represents the volumes of mortgage applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from Richmond Hill happen to occur during our first quarter (represented by the brown bars) with 30.74% while our slowest is the fourth quarter (represented by the red bars) with 18.24%.

Busy Months Report for Richmond Hill Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 May: 13.2%
2 February: 11.5%
3 March: 10.1%
4 October: 9.8%
5 January: 9.1%
6 September: 9.1%
RankMonth Percentage of Applications
7 June: 8.4%
8 July: 7.1%
9 August: 6.8%
10 April: 6.4%
11 December: 5.4%
12 November: 3.0%

Busy Days for Mortgages within Richmond Hill

The graph below displays the busy days for Internet mortgage applications that were received by Super Brokers' web site. Each day is a total combined representation of the last 5 years of all occurrences of that day. In Richmond Hill the most busy day of the week, with 19.93% of all applications, is Wednesday. In comparison, Sunday's are the slowest day with only 8.11% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Wednesday: 19.9%
2 Tuesday: 19.3%
3 Monday: 14.5%
4 Thursday: 14.2%
5 Friday: 12.8%
6 Saturday: 11.2%
7 Sunday: 8.1%
Busy Days Report for Richmond Hill Mortgages

Peak Hours for Mortgage Applicants within Richmond Hill

In Richmond Hill, inquiries are received 24 hours a day via the Super Brokers web site. The information shown below indicates the busy hours in the day. The data is taken from all days of all years.


Peak Hours Graph for Mortgages in Richmond Hill
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 0.7%
1AM 01:00 to 01:59: 0.3%
2AM 02:00 to 02:59: 0.3%
3AM 03:00 to 03:59: 0.3%
4AM 04:00 to 04:59: 1.0%
5AM 05:00 to 05:59: 2.4%
6AM 06:00 to 06:59: 4.4%
7AM 07:00 to 07:59: 6.1%
8AM 08:00 to 08:59: 4.4%
9AM 09:00 to 09:59: 8.4%
10AM 10:00 to 10:59: 7.8%
11AM 11:00 to 11:59: 8.8%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 5.7%
1PM 13:00 to 13:59: 6.1%
2PM 14:00 to 14:59: 5.4%
3PM 15:00 to 15:59: 3.7%
4PM 16:00 to 16:59: 4.7%
5PM 17:00 to 17:59: 5.1%
6PM 18:00 to 18:59: 6.4%
7PM 19:00 to 19:59: 5.1%
8PM 20:00 to 20:59: 5.1%
9PM 21:00 to 21:59: 5.7%
10PM 22:00 to 22:59: 1.7%
11PM 23:00 to 23:59: 0.3%

Ontario 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 Richmond Hill Ranks in Ontario for Mortgage Business

The following table lists how Richmond Hill 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
14CAMBRIDGE, ON 0.624%
15OSHAWA, ON 0.614%
16ST CATHARINES, ON 0.536%
17NORTH YORK, ON 0.522%
18ETOBICOKE, ON 0.515%
19RICHMOND HILL, ON 0.512%
20BRANTFORD, ON 0.494%
21KINGSTON, ON 0.482%
22MARKHAM, ON 0.439%
23SAULT STE MARIE, ON 0.429%
24SUDBURY, ON 0.401%

Types of Mortgage Inquiries Received from Richmond Hill


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Mortgage Renewal: 21.6%
Mortgage Pre-approval: 20.3%
Refinance / Debt Consolidation: 13.9%
New Home Purchase: 13.2%
First-time Home Buyer: 11.1%
No Money Down Mortgage (discontinued): 5.4%
Commercial: 4.4%
Other: 10%
 
Total Application Types Found: 18

Age Demographics for Richmond Hill Mortgages

Average age: 40
Oldest age: 80
Youngest age: 21


Incomes for Richmond Hill Mortgages

The following figures show the average income of applicants living in Richmond Hill who have submitted an inquiry using the Super Brokers' mortgage application.

Average annual gross income for
mortgage applicants in Richmond Hill: $74,305.11
applicants within all of Canada: $60,852.54
Difference: $13,452.57
  
mortgage co-applicants in Richmond Hill: $55,522.60
co-applicants within all of Canada: $43,965.51
Difference: $11,557.08

Note: Commercial Mortgages were not included for this section, only residential mortgage loan amounts from Richmond Hill, Ontario were used.

Nearest Settlements


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Last mortgage report update for Richmond Hill: Friday, July 1, 2016
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