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Toronto Mortgage Information

Average Mortgage Loan in Toronto: $271,291

Busy Months for Mortgages Received within Toronto

The following bar graph displays the volumes of Web applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from Toronto mostly occur during our first quarter (represented by the brown bars) with 30.78% while our slowest is the fourth quarter (represented by the red bars) with 18.98%.

Busy Months Report for Toronto Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 January: 10.8%
2 March: 10.5%
3 May: 10.1%
4 February: 9.5%
5 April: 9.4%
6 June: 8.4%
RankMonth Percentage of Applications
7 July: 7.8%
8 September: 7.7%
9 October: 7.4%
10 November: 7.0%
11 August: 6.8%
12 December: 4.6%

Busy Days for Mortgages within Toronto

The information below compares the busy days for mortgage 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 Toronto the busiest day, with 18.54% of all applications, is Tuesday. In comparison, Saturday's are the slowest day with only 8.65% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Tuesday: 18.5%
2 Monday: 18.0%
3 Wednesday: 17.3%
4 Thursday: 14.8%
5 Friday: 12.1%
6 Sunday: 10.6%
7 Saturday: 8.7%
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

In Toronto, applications are received 24 hours a day via the Super Brokers' web site. The report shown below represents the rush hours over a 24-hour period. The data is taken from all days of all years. Only 37.9% of all mortgages are received before noon, while 60.8% 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: 7.5%
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: 2.6%
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: 21.16%
British Columbia: 10.37%
Manitoba: 1.99%
New Brunswick: 2.51%
Newfoundland and Labrador: 1.29%
Nova Scotia: 3.29%
Northwest Territories: 0.49%
Nunavut: 0.10%
Ontario: 47.28%
Prince Edward Island: 0.50%
Quebec: 3.94%
Saskatchewan: 5.05%
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 4.346%
2MISSISSAUGA, ON 2.352%
3OTTAWA, ON 2.116%
4LONDON, ON 1.487%
5BRAMPTON, ON 1.468%
6HAMILTON, ON 1.452%

Types of Mortgage Inquiries Received from Toronto


Type of Mortgage Application Form Selected  Percentage
of Inquiries
First-time Home Buyer: 24.3%
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: 10.9%
 
Total Application Types Found: 19

Age Demographics for Toronto Mortgage Applicants

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


Incomes for Toronto Mortgage Applicants

The following depicts the average income of Canadians living in Toronto who have applied for a loan using the Super Brokers' mortgage application.

Average annual gross income for
mortgage applicants in Toronto: $73,392.30
applicants within all of Canada: $60,841.69
Difference: $12,550.61
  
mortgage co-applicants in Toronto: $53,231.40
co-applicants within all of Canada: $44,024.91
Difference: $9,206.49

Note: Commercial Mortgage loans were not included for this survey, only residential mortgage loan amounts from Toronto, Ontario were used.


Last mortgage report update for Toronto: Wednesday, May 20, 2015
Mortgage Calculator
 
Below is a listing of our most popular mortgage product inquiries made using our online mortgage application for clients in Peterborough.

Mortgage Product Type Inquiries
Refinance/Consolidate Debt17.09%
Mortgage Pre-approval16.67%
First-time Home Buyer15.38%
No Money Down discontinued14.96%
New Purchase14.53%
Mortgage Renewal9.40%
Other11.96%
 
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