Tuesday August 11th 2009, 2:27 pm
Filed under: Uncategorized Tagged Average, Average Co-Income Average Loan, Can Equity, Inquiries, Mortgage Application, province, Sandy Hutchens, the province of Ontario
Filed under: Uncategorized Tagged Average, Average Co-Income Average Loan, Can Equity, Inquiries, Mortgage Application, province, Sandy Hutchens, the province of Ontario
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Top Producing Cities / Towns for Mortgages in Ontario
| City or Town within the province of Ontario |
Percentage of Inquiries |
Average Age |
Average Income |
Average Co-Income |
Average Loan |
|
|---|---|---|---|---|---|---|
| 001: | TORONTO, ON | 10.180% | 37 | $72,020.33 | $53,306.34 | $251,514.05 |
| 002: | MISSISSAUGA, ON | 5.340% | 38 | $65,011.27 | $42,650.27 | $216,319.82 |
| 003: | OTTAWA, ON | 4.877% | 37 | $63,647.22 | $48,092.55 | $193,513.81 |
| 004: | LONDON, ON | 3.301% | 36 | $50,250.50 | $39,264.21 | $148,816.18 |
| 005: | BRAMPTON, ON | 3.200% | 38 | $55,555.18 | $40,194.40 | $187,423.54 |
| 006: | HAMILTON, ON | 3.072% | 37 | $51,317.10 | $35,855.62 | $139,642.44 |
| 007: | KITCHENER, ON | 2.114% | 37 | $56,817.60 | $46,744.65 | $165,035.17 |
| 008: | SCARBOROUGH, ON | 1.917% | 37 | $54,592.73 | $39,387.32 | $208,496.04 |
| 009: | BARRIE, ON | 1.826% | 36 | $54,774.52 | $35,950.49 | $161,129.67 |
| 010: | WINDSOR, ON | 1.768% | 36 | $56,800.76 | $42,584.50 | $128,782.21 |
| 011: | BURLINGTON, ON | 1.709% | 40 | $70,594.74 | $44,735.28 | $194,446.84 |
| 012: | OAKVILLE, ON | 1.432% | 40 | $76,825.02 | $43,910.05 | $211,787.43 |
| 013: | OSHAWA, ON | 1.358% | 38 | $54,997.91 | $40,697.94 | $144,619.35 |
| 014: | CAMBRIDGE, ON | 1.225% | 37 | $53,751.63 | $38,913.50 | $161,294.14 |
| 015: | GUELPH, ON | 1.187% | 36 | $57,821.02 | $39,090.54 | $176,453.95 |
| 016: | BRANTFORD, ON | 1.166% | 36 | $48,635.45 | $32,734.72 | $139,815.65 |
| 017: | ETOBICOKE, ON | 1.166% | 37 | $55,062.16 | $42,469.88 | $217,324.50 |
| 018: | ST CATHARINES, ON | 1.139% | 35 | $49,904.79 | $34,253.03 | $145,004.28 |
| 019: | RICHMOND HILL, ON | 1.123% | 40 | $71,388.04 | $55,447.72 | $203,224.71 |
| 020: | KINGSTON, ON | 1.038% | 39 | $56,154.61 | $36,738.39 | $160,706.06 |
| 021: | NORTH YORK, ON | 1.017% | 36 | $57,288.44 | $42,203.43 | $249,876.71 |
| 022: | MARKHAM, ON | 0.873% | 37 | $66,013.74 | $44,834.03 | $218,453.39 |
| 023: | AJAX, ON | 0.809% | 39 | $62,768.82 | $39,551.30 | $177,835.48 |
| 024: | PETERBOROUGH, ON | 0.804% | 38 | $51,733.69 | $47,404.55 | $133,064.03 |
| 025: | THUNDER BAY, ON | 0.793% | 37 | $49,290.04 | $39,288.70 | $101,296.38 |
| 026: | WATERLOO, ON | 0.772% | 37 | $60,960.90 | $40,930.91 | $191,821.10 |
| 027: | WHITBY, ON | 0.767% | 38 | $62,389.27 | $48,747.20 | $160,667.61 |
| 028: | SAULT STE MARIE, ON | 0.751% | 36 | $41,953.29 | $40,826.91 | $102,727.44 |
| 029: | NIAGARA FALLS, ON | 0.719% | 35 | $43,060.52 | $42,998.79 | $136,918.18 |
| 030: | SUDBURY, ON | 0.692% | 35 | $58,198.24 | $38,065.98 | $135,406.22 |
| 031: | PICKERING, ON | 0.666% | 38 | $62,916.85 | $54,249.79 | $171,686.77 |
| 032: | NEWMARKET, ON | 0.639% | 37 | $61,063.87 | $49,146.06 | $195,336.37 |
| 033: | NEPEAN, ON | 0.612% | 37 | $56,838.29 | $40,162.33 | $166,479.94 |
| 034: | CORNWALL, ON | 0.591% | 35 | $45,548.26 | $25,219.53 | $106,514.34 |
| 035: | THORNHILL, ON | 0.570% | 41 | $82,138.86 | $48,706.16 | $246,723.38 |
| 036: | SARNIA, ON | 0.559% | 38 | $49,733.57 | $32,232.06 | $114,297.14 |
| 037: | BELLEVILLE, ON | 0.548% | 37 | $46,616.79 | $28,371.63 | $139,265.44 |
| 038: | WOODSTOCK, ON | 0.543% | 38 | $55,675.81 | $42,170.28 | $136,464.50 |
| 039: | WELLAND, ON | 0.538% | 38 | $43,517.45 | $30,980.56 | $105,968.85 |
| 040: | KANATA, ON | 0.532% | 39 | $67,619.97 | $50,315.12 | $180,480.76 |
| 041: | ORLEANS, ON | 0.516% | 41 | $61,029.29 | $41,736.54 | $151,083.27 |
| 042: | MILTON, ON | 0.500% | 36 | $60,785.91 | $46,926.84 | $181,922.11 |
| 043: | NORTH BAY, ON | 0.485% | 38 | $45,583.65 | $40,475.15 | $121,090.93 |
| 044: | CHATHAM, ON | 0.479% | 36 | $44,864.83 | $37,642.97 | $98,116.41 |
| 045: | WOODBRIDGE, ON | 0.458% | 35 | $65,855.23 | $52,220.22 | $262,116.52 |
| 046: | STONEY CREEK, ON | 0.453% | 39 | $55,384.72 | $41,859.09 | $167,180.70 |
| 047: | AURORA, ON | 0.415% | 38 | $68,936.33 | $55,696.65 | $204,316.75 |
| 048: | ST THOMAS, ON | 0.415% | 38 | $48,714.90 | $38,221.85 | $132,483.76 |
| 049: | ORILLIA, ON | 0.405% | 38 | $42,266.43 | $36,425.16 | $143,643.32 |
| 050: | TIMMINS, ON | 0.405% | 35 | $46,959.65 | $36,519.17 | $100,015.57 |
Product Popularity for Ontario
| Mortgage Application Form Type |
Percentage of Inquiries |
|
|---|---|---|
| Qualification: | 21.9% | |
| First-time Buyer: | 20.6% | |
| Refinance: | 17.5% | |
| No Money Down: | 11.9% | |
| Renewal: | 11.6% | |
| Purchase: | 7.2% | |
| Variable Rate: | 2.3% | |
| Pre-approval: | 1.4% | |
| Low Doc: | 1.2% | |
| Commercial: | 1.1% | |
| Investment: | 0.9% | |
| Other: | 2.4% | |
| Total Application Types Found: 21 | ||
Age Demographics for Ontario Mortgage Inquiries
Average age: 38
Oldest age: 89
Youngest age: 19
Incomes for Ontario Mortgage Inquiries
The numbers below represent the average income of people living in Ontario who have applied for a mortgage loan using the pre-approval application on CanEquity’s web site.
| Average annual gross income for | |
|---|---|
| mortgage applicants in Ontario: | $58,616.20 |
| applicants within all of Canada: | $57,946.88 |
| Difference: | $669.32 |
| mortgage co-applicants in Ontario: | $42,337.89 |
| co-applicants within all of Canada: | $40,772.00 |
| Difference: | $1,565.89 |
Note: Commercial Mortgage loans were not included for this survey, only residential mortgages from Ontario were used.
Residential Status for Ontario
The following table represents the residential status of people living in Ontario who have applied for a home loan using the pre-approval application on CanEquity’s web site.
| Residential Status of Mortgage Applicant |
Percentage of Inquiries |
|
|---|---|---|
| Rent: | 41.8% | |
| Own: | 47.5% | |
| Other: | 1.9% | |
| No Comment: | 3.2% | |
| Live with parents: | 5.6% |
Marital Status for Ontario
The pie chart below represents the marital status of applicants from Ontario using the preapproval application located at canequity.com. 64% of the mortgage applicants are living common-law or married, while only 35% are single, separated or divorced.
| Marital Status of Mortgage Applicant |
Percentage of Inquiries |
|
|---|---|---|
| Married: | 51.3% | |
| Single: | 26.8% | |
| Common-law: | 12.8% | |
| Separated: | 4.5% | |
| Divorced: | 3.8% | |
| Widowed: | 0.8% |
