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Scarborough Mortgage Information

Average Mortgage Loan in Scarborough: $239,080

Busy Months for Mortgage Inquiries within Scarborough

The 6-year bar graph below represents the volumes of online applications received by Super Brokers in each month for all years combined. The busiest months for mortgages from Scarborough occur during our first quarter (represented by the brown bars) with 27.94% while our slowest is the fourth quarter (represented by the red bars) with 21.05%.

Busy Months Report for Scarborough Mortgages

Rankings for Busy Mortgage Months

RankMonthPercentage of Applications
1 March: 11.1%
2 January: 10.3%
3 April: 9.7%
4 July: 9.7%
5 September: 9.1%
6 November: 7.9%
RankMonth Percentage of Applications
7 October: 7.9%
8 June: 7.7%
9 August: 7.5%
10 May: 7.3%
11 February: 6.5%
12 December: 5.3%

Busy Days for Applications within Scarborough

The information listed below plots the busy days for online 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 Scarborough the most busy day of the week, with 20.04% of all inquiries, is Monday. In comparison, Saturday's are the slowest day with only 10.93% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Monday: 20.0%
2 Tuesday: 17.2%
3 Wednesday: 15.0%
4 Thursday: 13.8%
5 Friday: 11.7%
6 Sunday: 11.3%
7 Saturday: 10.9%
Busy Days Report for Scarborough Mortgages

Peak Hours for Mortgage Applicants within Scarborough

In Scarborough, applications are received 24 hours a day via our web site. The statistics shown below represents the peak hours in the day. The data is taken from all days of all years. Only 37.2% of all mortgages are received during the morning, while 61.7% arrive in the afternoon.


Peak Hours Graph for Mortgages in Scarborough
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 0.6%
1AM 01:00 to 01:59: 0.4%
2AM 02:00 to 02:59: 0%
3AM 03:00 to 03:59: 0.4%
4AM 04:00 to 04:59: 1.0%
5AM 05:00 to 05:59: 1.0%
6AM 06:00 to 06:59: 2.2%
7AM 07:00 to 07:59: 4.0%
8AM 08:00 to 08:59: 5.1%
9AM 09:00 to 09:59: 8.3%
10AM 10:00 to 10:59: 8.9%
11AM 11:00 to 11:59: 6.3%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 7.7%
1PM 13:00 to 13:59: 8.9%
2PM 14:00 to 14:59: 4.7%
3PM 15:00 to 15:59: 6.3%
4PM 16:00 to 16:59: 3.2%
5PM 17:00 to 17:59: 5.5%
6PM 18:00 to 18:59: 4.5%
7PM 19:00 to 19:59: 6.5%
8PM 20:00 to 20:59: 8.5%
9PM 21:00 to 21:59: 2.2%
10PM 22:00 to 22:59: 3.0%
11PM 23:00 to 23:59: 0.8%

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 Scarborough Ranks in Ontario for Mortgage Business

The following table lists how Scarborough 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
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%
10BARRIE, ON 0.768%
11BURLINGTON, ON 0.752%
12GUELPH, ON 0.685%
13OAKVILLE, ON 0.647%

Types of Mortgage Inquiries Received from Scarborough


Type of Mortgage Application Form Selected  Percentage
of Inquiries
First-time Home Buyer: 23.5%
Mortgage Pre-approval: 20.2%
New Home Purchase: 16.0%
No Money Down Mortgage (discontinued): 12.8%
Mortgage Renewal: 9.3%
Refinance / Debt Consolidation: 8.9%
Other: 9.2%
 
Total Application Types Found: 14

Age Demographics for Scarborough Mortgage Applicants

Average age: 38
Oldest age: 70
Youngest age: 20


Incomes for Scarborough Mortgage Applicants

The figures below represent the average income of Canadians living in Scarborough who have submitted a mortgage inquiry using the Super Brokers' mortgage application.

Average annual gross income for
mortgage applicants in Scarborough: $55,811.22
applicants within all of Canada: $60,852.54
Difference: ($5,041.32)
  
mortgage co-applicants in Scarborough: $41,494.29
co-applicants within all of Canada: $43,965.51
Difference: ($2,471.22)

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


Last mortgage report update for Scarborough: Friday, July 1, 2016
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