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London Mortgage Information

Average Mortgage Loan in London: $162,655

Busy Months for Online Mortgages within London

The following bar graph represents the volumes of mortgage applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from London mostly occur during our first quarter (represented by the brown bars) with 30.70% while our slowest is the fourth quarter (represented by the red bars) with 20.12%.

Busy Months Report for London Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 January: 11.1%
2 March: 10.9%
3 May: 10.0%
4 February: 8.7%
5 April: 8.4%
6 September: 8.3%
RankMonth Percentage of Applications
7 October: 7.9%
8 August: 7.8%
9 July: 7.6%
10 June: 7.2%
11 November: 6.4%
12 December: 5.8%

Busy Days for Applications within London

The data below shows the busy days for mortgage applications that were received by our web site. A combined total of all occurrences of each day are represented for the past 5 years. In London the busiest day, with approximately 19.42% of all submissions, is Tuesday. In comparison, Saturday's are the slowest day with only 10.23% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Tuesday: 19.4%
2 Wednesday: 17.8%
3 Monday: 17.3%
4 Thursday: 12.6%
5 Sunday: 11.9%
6 Friday: 10.8%
7 Saturday: 10.2%
Busy Days Report for London Mortgages

Peak Hours for Mortgage Applicants within London

In London, applications are received 24 hours a day from the Mortgage Super Brokers web site. The information shown below indicates the busy hours within a 24-hour period. The data is taken from all days of all years. Only 36.3% of all mortgages are received before noon, while 61.7% arrive in the afternoon.


Peak Hours Graph for Mortgages in London
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 0.8%
1AM 01:00 to 01:59: 0.8%
2AM 02:00 to 02:59: 0.3%
3AM 03:00 to 03:59: 0.6%
4AM 04:00 to 04:59: 0.7%
5AM 05:00 to 05:59: 1.5%
6AM 06:00 to 06:59: 2.0%
7AM 07:00 to 07:59: 3.7%
8AM 08:00 to 08:59: 6.6%
9AM 09:00 to 09:59: 6.5%
10AM 10:00 to 10:59: 6.6%
11AM 11:00 to 11:59: 8.0%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 8.1%
1PM 13:00 to 13:59: 5.3%
2PM 14:00 to 14:59: 5.9%
3PM 15:00 to 15:59: 5.9%
4PM 16:00 to 16:59: 2.9%
5PM 17:00 to 17:59: 7.0%
6PM 18:00 to 18:59: 6.4%
7PM 19:00 to 19:59: 5.9%
8PM 20:00 to 20:59: 5.6%
9PM 21:00 to 21:59: 3.6%
10PM 22:00 to 22:59: 2.7%
11PM 23:00 to 23:59: 2.3%

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 London Ranks in Ontario for Mortgage Business

The following table lists how London 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 4.353%
2MISSISSAUGA, ON 2.356%
3OTTAWA, ON 2.125%
4LONDON, ON 1.487%
5BRAMPTON, ON 1.476%
6HAMILTON, ON 1.454%
7KITCHENER, ON 1.029%
8SCARBOROUGH, ON 0.854%
9WINDSOR, ON 0.783%

Types of Mortgage Inquiries Received from London


Type of Mortgage Application Form Selected  Percentage
of Inquiries
First-time Home Buyer: 21.3%
Mortgage Pre-approval: 19.8%
New Home Purchase: 13.6%
Refinance / Debt Consolidation: 12.8%
No Money Down Mortgage (discontinued): 12.4%
Mortgage Renewal: 12.0%
Other: 8%
 
Total Application Types Found: 17

Age Demographics for London Mortgage Applicants

Average age: 37
Oldest age: 84
Youngest age: 20


Incomes for London Mortgage Applicants

The following depicts the average income of Canadians living in London 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 London: $54,258.06
applicants within all of Canada: $60,852.54
Difference: ($6,594.48)
  
mortgage co-applicants in London: $41,367.12
co-applicants within all of Canada: $43,965.51
Difference: ($2,598.39)

Note: Commercial loans were not included for this report, only residential mortgage loan amounts from London, Ontario were used.


Last mortgage report update for London: Friday, July 1, 2016
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Below is a listing of our most popular mortgage product inquiries made using our online mortgage application for clients in Collingwood.

Mortgage Product Type Inquiries
First-time Home Buyer25.86%
Mortgage Pre-approval22.41%
Refinance/Consolidate Debt18.97%
No Money Down discontinued17.24%
Mortgage Renewal10.34%
Other5.17%