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Toronto Mortgage Information

Average Mortgage Loan in Toronto: $271,691

Busy Months for Mortgages Originating within Toronto

This bar graph shows the volumes of Web applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from Toronto happen to occur during our first quarter (represented by the brown bars) with 30.73% while our slowest is the fourth quarter (represented by the red bars) with 18.95%.

Busy Months Report for Toronto Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 January: 10.8%
2 March: 10.5%
3 May: 10.2%
4 February: 9.5%
5 April: 9.4%
6 June: 8.4%
RankMonth Percentage of Applications
7 July: 7.9%
8 September: 7.6%
9 October: 7.4%
10 November: 7.0%
11 August: 6.8%
12 December: 4.6%

Busy Days for Mortgage Inquiries within Toronto

The information listed below displays the busy days for online applications that were received by Super Brokers. Each day is a representation of the combined 6-year total of all instances of that day. In Toronto the most busy day of the week, with 18.55% of all submissions, is Tuesday. In comparison, Saturday's are the slowest day with only 8.64% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Tuesday: 18.6%
2 Monday: 17.9%
3 Wednesday: 17.4%
4 Thursday: 14.7%
5 Friday: 12.1%
6 Sunday: 10.6%
7 Saturday: 8.6%
Busy Days Report for Toronto Mortgages

Top 10 Days for Toronto Mortgage Inquiries


1 008 on Wednesday, January 11, 2006.
2 007 on Friday, April 24, 2009.
3 006 on Monday, September 28, 2009.
4 006 on Thursday, January 12, 2006.
5 006 on Thursday, October 6, 2005.
6 006 on Wednesday, May 13, 2009.
7 006 on Thursday, January 17, 2008.
8 006 on Thursday, May 8, 2008.
9 005 on Wednesday, May 23, 2007.
10 005 on Monday, March 23, 2009.

Note: These records do not include e-mails, contact forms, faxes, phone-ins or walk-ins.

Peak Hours for Mortgages within Toronto

Mortgage inquiries are received 24 hours a day on the Super Brokers' web site. The statistics shown below represents the rush hours over a 24-hour period. The data is taken from all days of all years. Only 37.8% of all mortgages are received before noon, while 60.9% arrive in the afternoon.


Peak Hours Graph for Mortgages in Toronto
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 0.7%
1AM 01:00 to 01:59: 0.4%
2AM 02:00 to 02:59: 0.2%
3AM 03:00 to 03:59: 0.2%
4AM 04:00 to 04:59: 0.6%
5AM 05:00 to 05:59: 1.5%
6AM 06:00 to 06:59: 2.7%
7AM 07:00 to 07:59: 4.5%
8AM 08:00 to 08:59: 6.1%
9AM 09:00 to 09:59: 8.2%
10AM 10:00 to 10:59: 7.2%
11AM 11:00 to 11:59: 7.0%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 7.7%
1PM 13:00 to 13:59: 8.4%
2PM 14:00 to 14:59: 7.6%
3PM 15:00 to 15:59: 4.9%
4PM 16:00 to 16:59: 4.7%
5PM 17:00 to 17:59: 4.5%
6PM 18:00 to 18:59: 5.1%
7PM 19:00 to 19:59: 5.6%
8PM 20:00 to 20:59: 4.9%
9PM 21:00 to 21:59: 3.5%
10PM 22:00 to 22:59: 2.5%
11PM 23:00 to 23:59: 1.4%

Ontario 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 Toronto Ranks in Ontario for Mortgage Business

The following table lists how Toronto 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
1TORONTO, ON 4.333%
2MISSISSAUGA, ON 2.349%
3OTTAWA, ON 2.115%
4LONDON, ON 1.482%
5BRAMPTON, ON 1.465%
6HAMILTON, ON 1.454%

Types of Mortgage Inquiries Received from Toronto


Type of Mortgage Application Form Selected  Percentage
of Inquiries
First-time Home Buyer: 24.4%
Mortgage Pre-approval: 23.4%
New Home Purchase: 11.8%
Mortgage Renewal: 10.5%
No Money Down Mortgage (discontinued): 10.4%
Refinance / Debt Consolidation: 8.7%
Other: 10.7%
 
Total Application Types Found: 19

Age Demographics for Toronto Based Mortgages

Average age: 38
Oldest age: 85
Youngest age: 20


Incomes for Toronto Based Mortgages

The amounts shown below represent the average income of Canadians living in Toronto 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 Toronto: $73,449.75
applicants within all of Canada: $60,871.80
Difference: $12,577.95
  
mortgage co-applicants in Toronto: $53,224.21
co-applicants within all of Canada: $44,075.54
Difference: $9,148.67

Note: Commercial loans were not included for this survey, only residential mortgages from Toronto, Ontario were used.


Last mortgage report update for Toronto: Thursday, August 13, 2015
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Below is a listing of our most popular mortgage product inquiries made using our online mortgage application for clients in St Thomas.

Mortgage Product Type Inquiries
Mortgage Pre-approval23.76%
Refinance/Consolidate Debt16.83%
No Money Down discontinued14.85%
First-time Home Buyer14.85%
Mortgage Renewal10.89%
New Purchase10.89%
Other7.92%