British Columbia Mortgage
Information, Statisitics & Reports
Information, Statisitics & Reports
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Disclaimer:
CanEquity Mortgage has compiled the following data for educational and informational purposes as outlined in our privacy policy. All names, street and e-mail addresses, telephone numbers, dates of birth, and other forms of identification have been removed before the following data was compiled. These statistics are anonymous and contain no personal information, and cannot be used to gather such information.
The statistics gathered are from CanEquity’s web site and do not include inquiries via fax, e-mail, contact forms, phone-ins or walk-ins. The statistics gathered represent the growing Internet usage and mortgage trends found within Canada.
All information, charts and graphs represented are deemed accurate and reliable but no warranty or guarantee is implied. Data may be noticeably affected from time to time by changes in CanEquity Mortgage marketing efforts. Data may also be affected by Internet connectivity, outages and service (or lack of) to areas within Canada. The range of data collected is from 30,000 to 60,000 mortgage applicants from across Canada. All data has a deviation of +/- 1.00% for added anonymity. No statistic contained herein represents a single person.
This information may be used freely for educational or non-commercial use. For more information about this service, please e-mail marketing@canequity.com. Copyright © 2001-2008 CEG Research, The Canadian Equity Group Inc.
| Year | Volume Comparison | ** National Contribution |
|---|---|---|
| 2008: | * 13.78% | * 1.55% |
| 2007: | 16.64% | 1.87% |
| 2006: | 17.67% | 1.98% |
| 2005: | 13.83% | 1.55% |
| 2004: | 13.94% | 1.56% |
| 2003: | 14.51% | 1.63% |
| 2002: | 9.64% | 1.08% |
This graph depicts the individual monthly volume history for Internet pre-approval applications sent from British Columbia.
The graph below illustrates the volumes of applications received by CanEquity in each month for all years combined. The busiest months for mortgages occur during our second quarter (represented by the green bars) with 28.85% while our slowest is the fourth quarter (represented by the red bars) with 19.26%.
| Rank | Month | Percentage of Inquiries | |
|---|---|---|---|
| 1: | April: | 9.9% | |
| 2: | May: | 9.7% | |
| 3: | March: | 9.4% | |
| 4: | January: | 9.4% | |
| 5: | June: | 9.3% | |
| 6: | February: | 9.1% | |
| 7: | July: | 8.6% | |
| 8: | August: | 8.1% | |
| 9: | September: | 7.2% | |
| 10: | October: | 7.2% | |
| 11: | November: | 7.1% | |
| 12: | December: | 5.0% |
The bar graph below illustrates the busy days for online mortgage applications that were received by CanEquity. A combined total of all occurrences of each day are represented for the past 5 years. In British Columbia the busiest day of the week, with 17.67% of all inquiries, is Tuesday. In comparison, Saturday's are the slowest day with only 9.48% of all inquiries.
| Rank | Day of the Week | Percentage of Inquiries | |
|---|---|---|---|
| 1: | Tuesday: | 17.7% | |
| 2: | Monday: | 16.7% | |
| 3: | Wednesday: | 16.3% | |
| 4: | Thursday: | 15.8% | |
| 5: | Friday: | 12.8% | |
| 6: | Sunday: | 11.3% | |
| 7: | Saturday: | 9.5% |
In British Columbia, inquiries are received 24 hours a day from the CanEquity web site. The statistics shown below indicates the rush hours in the day. The data is taken from all days of all years.
| Time Period (24 Hour) | Percentage of Inquiries |
|---|---|
| 00:00 to 00:59: | 3.3% |
| 01:00 to 01:59: | 1.4% |
| 02:00 to 02:59: | 0.9% |
| 03:00 to 03:59: | 0.6% |
| 04:00 to 04:59: | 0.5% |
| 05:00 to 05:59: | 0.4% |
| 06:00 to 06:59: | 0.5% |
| 07:00 to 07:59: | 0.8% |
| 08:00 to 08:59: | 1.7% |
| 09:00 to 09:59: | 3.2% |
| 10:00 to 10:59: | 5.1% |
| 11:00 to 11:59: | 6.6% |
| 12:00 to 12:59: | 7.7% |
| 13:00 to 13:59: | 6.8% |
| 14:00 to 14:59: | 6.9% |
| 15:00 to 15:59: | 6.8% |
| 16:00 to 16:59: | 6.3% |
| 17:00 to 17:59: | 6.3% |
| 18:00 to 18:59: | 5.9% |
| 19:00 to 19:59: | 5.1% |
| 20:00 to 20:59: | 5.6% |
| 21:00 to 21:59: | 6.1% |
| 22:00 to 22:59: | 6.3% |
| 23:00 to 23:59: | 5.4% |
| Online Mortgage Origination for the Province of | Percentage in Comparison |
|---|---|
| Alberta: | 187.7% |
| British Columbia: | 100.0% |
| Manitoba: | 18.6% |
| New Brunswick: | 18.2% |
| Newfoundland and Labrador: | 10.4% |
| Nova Scotia: | 24.9% |
| Northwest Territories: | 2.8% |
| Nunavut: | 0.8% |
| Ontario: | 434.7% |
| Prince Edward Island: | 3.3% |
| Quebec: | 33.7% |
| Saskatchewan: | 48.5% |
| Yukon Territories: | 1.9% |
| City or Town within the province of British Columbia | Percentage of Inquiries | Average Age | Average Income | Average Co-Income | Average Home Loan | |
|---|---|---|---|---|---|---|
| 001: | VANCOUVER, BC | 9.454% | 37 | $61,697.09 | $41,218.27 | $255,092.22 |
| 002: | SURREY, BC | 7.131% | 38 | $60,102.96 | $38,678.37 | $205,436.04 |
| 003: | VICTORIA, BC | 6.537% | 38 | $58,293.19 | $37,585.71 | $212,603.19 |
| 004: | KELOWNA, BC | 3.241% | 39 | $61,839.38 | $28,811.76 | $173,824.34 |
| 005: | ABBOTSFORD, BC | 3.052% | 37 | $52,809.29 | $37,075.44 | $206,889.16 |
| 006: | BURNABY, BC | 3.052% | 36 | $55,312.57 | $39,670.63 | $222,681.52 |
| 007: | CHILLIWACK, BC | 2.593% | 42 | $50,170.24 | $43,041.46 | $175,491.86 |
| 008: | RICHMOND, BC | 2.593% | 40 | $67,261.16 | $38,061.33 | $207,219.19 |
| 009: | COQUITLAM, BC | 2.485% | 37 | $65,348.60 | $40,521.03 | $235,033.23 |
| 010: | KAMLOOPS, BC | 2.431% | 38 | $48,072.03 | $42,181.90 | $134,746.19 |
| 011: | NORTH VANCOUVER, BC | 2.350% | 38 | $70,609.45 | $53,344.44 | $278,068.87 |
| 012: | PRINCE GEORGE, BC | 2.323% | 37 | $50,576.10 | $42,538.62 | $127,542.97 |
| 013: | NANAIMO, BC | 2.161% | 40 | $48,319.40 | $31,284.76 | $165,635.22 |
| 014: | FORT ST JOHN, BC | 2.161% | 32 | $57,026.68 | $37,217.03 | $153,518.22 |
| 015: | LANGLEY, BC | 2.107% | 38 | $62,047.24 | $40,331.73 | $192,089.92 |
| 016: | MAPLE RIDGE, BC | 1.810% | 40 | $52,586.91 | $42,460.78 | $171,832.70 |
| 017: | DELTA, BC | 1.675% | 39 | $60,786.48 | $38,813.04 | $218,354.85 |
| 018: | VERNON, BC | 1.540% | 38 | $50,110.53 | $35,379.61 | $169,756.32 |
| 019: | NEW WESTMINSTER, BC | 1.459% | 37 | $55,127.06 | $46,376.40 | $207,340.10 |
| 020: | PENTICTON, BC | 1.135% | 43 | $43,765.32 | $30,988.24 | $144,588.71 |
| 021: | DAWSON CREEK, BC | 1.108% | 37 | $42,629.28 | $34,105.45 | $110,632.61 |
| 022: | MISSION, BC | 0.918% | 39 | $57,721.55 | $50,971.71 | $139,926.23 |
| 023: | DUNCAN, BC | 0.891% | 37 | $48,849.13 | $31,716.78 | $199,461.29 |
| 024: | CAMPBELL RIVER, BC | 0.891% | 38 | $55,919.65 | $33,958.38 | $180,120.33 |
| 025: | COURTENAY, BC | 0.837% | 41 | $45,278.24 | $27,983.57 | $133,070.83 |
| 026: | PORT ALBERNI, BC | 0.837% | 38 | $46,764.45 | $34,648.00 | $115,518.21 |
| 027: | SALMON ARM, BC | 0.810% | 38 | $44,850.80 | $27,666.67 | $190,741.38 |
| 028: | PORT COQUITLAM, BC | 0.810% | 38 | $65,236.59 | $30,430.00 | $178,764.57 |
| 029: | WESTBANK, BC | 0.729% | 46 | $40,731.27 | $30,094.73 | $168,995.24 |
| 030: | NELSON, BC | 0.702% | 40 | $47,179.36 | $29,748.70 | $136,843.48 |
| 031: | CRANBROOK, BC | 0.675% | 40 | $48,693.96 | $56,487.00 | $98,061.42 |
| 032: | TERRACE, BC | 0.648% | 42 | $55,849.26 | $36,769.23 | $150,055.57 |
| 033: | WILLIAMS LAKE, BC | 0.621% | 36 | $59,334.00 | $48,328.00 | $169,000.00 |
| 034: | PARKSVILLE, BC | 0.621% | 45 | $49,151.82 | $27,230.77 | $131,360.27 |
| 035: | SECHELT, BC | 0.594% | 42 | $50,590.91 | $49,128.00 | $213,606.25 |
| 036: | LADYSMITH, BC | 0.594% | 41 | $55,932.45 | $39,114.29 | $164,904.47 |
| 037: | SOOKE, BC | 0.567% | 36 | $70,083.33 | $41,723.33 | $181,651.67 |
| 038: | REVELSTOKE, BC | 0.513% | 37 | $47,574.32 | $18,800.00 | $128,692.31 |
| 039: | WHITE ROCK, BC | 0.486% | 44 | $67,046.67 | $35,666.75 | $162,181.25 |
| 040: | PORT MOODY, BC | 0.486% | 42 | $85,804.06 | $47,333.33 | $246,838.63 |
| 041: | CASTLEGAR, BC | 0.459% | 32 | $37,933.41 | $34,445.57 | $119,320.00 |
| 042: | SIDNEY, BC | 0.459% | 39 | $54,987.50 | $25,291.43 | $233,685.64 |
| 043: | ALDERGROVE, BC | 0.432% | 40 | $47,156.00 | $45,104.00 | $228,150.00 |
| 044: | FORT NELSON, BC | 0.432% | 33 | $65,238.56 | $45,291.67 | $114,998.87 |
| 045: | SQUAMISH, BC | 0.432% | 36 | $59,093.75 | $33,666.67 | $175,464.29 |
| 046: | SPARWOOD, BC | 0.405% | 35 | $50,876.92 | $26,000.00 | $88,248.08 |
| 047: | MERRITT, BC | 0.405% | 45 | $56,537.13 | $44,250.00 | $250,807.69 |
| 048: | POWELL RIVER, BC | 0.405% | 40 | $63,615.38 | $28,000.00 | $129,218.18 |
| 049: | KIMBERLEY, BC | 0.405% | 42 | $41,954.86 | $56,000.00 | $121,629.69 |
| 050: | AGASSIZ, BC | 0.405% | 41 | $48,295.13 | $32,800.00 | $183,916.67 |
| Mortgage Application Form Type | Percentage of Inquiries | |
|---|---|---|
| Qualification: | 26.2% | |
| First-time Buyer: | 17.2% | |
| Refinance: | 17.0% | |
| No Money Down: | 12.7% | |
| Renewal: | 10.8% | |
| Purchase: | 6.5% | |
| Variable Rate: | 2.2% | |
| Pre-approval: | 1.6% | |
| Equity Mortgage: | 1.2% | |
| Investment: | 1.1% | |
| Second Mortgage: | 0.9% | |
| Commercial: | 0.9% | |
| Other: | 1.6% | |
| Total Application Types Found: 20 | ||
Average age: 39
Oldest age: 84
Youngest age: 19
The numbers below represent the average income of people living in British Columbia who have applied for a home loan using CanEquity's pre-approval application.
| Average annual gross income for | |
|---|---|
| mortgage applicants in British Columbia: | $56,819.42 |
| applicants within all of Canada: | $56,901.12 |
| Difference: | ($81.70) |
| mortgage co-applicants in British Columbia: | $37,750.45 |
| co-applicants within all of Canada: | $39,780.25 |
| Difference: | ($2,029.81) |
The following depicts the residential status of people living in British Columbia who have applied for a mortgage loan using the online application located at the CanEquity web site.
| Residential Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Rent: | 41.8% | |
| Own: | 47.2% | |
| Other: | 1.8% | |
| No Comment: | 6.1% | |
| Live with parents: | 3.1% |
The pie chart below represents the marital status of applicants from British Columbia using the online mortgage application found at canequity.com. Approximately 63% of the mortgage applicants are either married or living common-law, while only 35% are single, separated or divorced.
| Marital Status of Mortgage Applicant | Percentage of Inquiries | |
|---|---|---|
| Married: | 51.0% | |
| Single: | 27.4% | |
| Common-law: | 12.9% | |
| Divorced: | 3.9% | |
| Separated: | 3.9% | |
| Widowed: | 1.0% |
