Canadian Mortgage Statistics & Market Share Results Released

The CMHC released their latest Housing and Marketing Information report on Mortgage Lending 2009.

It provides some great information on the volumes of mortgages issued by banks and other lenders as well as the market share for CMHC approved mortgages in 2009. Here are some of the stats:

NHA and Conventional Mortgage Loans Approved by Lending Institutions, by Type of Lender

Period Banks Others Total
New Residential Construction
1999 $11,195,284,000 $2,285,876,000 $13,481,160,000
2000 $10,619,537,000 $3,017,298,000 $13,636,835,000
2001 $13,082,179,000 $3,523,321,000 $16,605,500,000
2002 $17,880,582,000 $4,840,239,000 $22,720,821,000
2003 $18,865,216,000 $3,840,488,000 $22,705,704,000
2004 $20,237,034,000 $4,773,580,000 $25,010,614,000
2005 $21,118,007,000 $6,005,024,000 $27,123,031,000
2006 $20,078,465,000 $6,230,075,000 $26,308,540,000
2007 $19,855,773,000 $6,280,345,000 $26,136,118,000
2008 $19,354,243,000 $7,064,267,000 $26,418,510,000
2009 $23,125,767,000 $7,964,326,000 $31,090,093,000
Existing Residential Property
1999 $49,033,338,000 $15,806,709,000 $64,840,047,000
2000 $43,597,393,000 $17,690,996,000 $61,288,389,000
2001 $64,504,603,000 $14,071,468,000 $78,576,071,000
2002 $79,646,654,000 $17,945,083,000 $97,591,737,000
2003 $95,498,391,000 $19,684,386,000 $115,182,777,000
2004 $113,957,835,000 $25,198,554,000 $139,156,389,000
2005 $124,718,731,000 $30,314,807,000 $155,033,538,000
2006 $132,516,805,000 $30,601,768,000 $163,118,573,000
2007 $153,182,662,000 $39,200,059,000 $192,382,721,000
2008 $141,488,060,000 $47,734,160,000 $189,222,220,000
2009 $158,100,253,000 $55,241,223,000 $213,341,476,000
Non-Residential Property
1999 $1,401,575,000 $1,043,594,000 $2,445,169,000
2000 $1,593,240,000 $954,577,000 $2,547,817,000
2001 $1,467,250,000 $757,755,000 $2,225,005,000
2002 $1,262,657,000 $626,885,000 $1,889,542,000
2003 $1,296,687,000 $1,869,383,000 $3,166,070,000
2004 $1,353,218,000 $184,963,000 $1,538,181,000
2005 $1,566,028,000 $215,014,000 $1,781,042,000
2006 $1,928,700,000 $234,733,000 $2,163,433,000
2007 $2,444,298,000 $753,864,000 $3,198,162,000
2008 $2,889,432,000 $1,133,583,000 $4,023,015,000
2009 $2,086,753,000 $726,376,000 $2,813,129,000
Total
1999 $61,630,197,000 $19,136,179,000 $80,766,376,000
2000 $55,810,170,000 $21,662,871,000 $77,473,041,000
2001 $79,054,032,000 $18,352,544,000 $97,406,576,000
2002 $98,789,893,000 $23,412,207,000 $122,202,100,000
2003 $115,660,294,000 $25,394,257,000 $141,054,551,000
2004 $135,548,087,000 $30,157,097,000 $165,705,184,000
2005 $147,402,766,000 $36,534,845,000 $183,937,611,000
2006 $154,523,970,000 $37,066,576,000 $191,590,546,000
2007 $175,482,733,000 $46,234,268,000 $221,717,001,000
2008 $163,731,735,000 $55,932,010,000 $219,663,745,000
2009 $183,312,773,000 $63,931,925,000 $247,244,698,000

Other includes: credit unions, caisses populaires, other smaller institutions and privately-insured loans in some areas.

From this data we can see that:

  • Bank market share for conventional mortgage loans across the different categories was 74% versus 26% for ‘other types’ such as credit unions
  • The volume of mortgage loans approved in 2009 grew by 13% overall over the previous year and added up to a whopping $27B

NHA and Conventional Mortgage Loans Approved by Lending Institutions, by Type of Lender (Dwelling Units)

Period  Banks  Others  Total
New Residential Construction
1999 82,902 23,017 105,919
2000 75,119 23,652 98,771
2001 84,515 26,477 110,992
2002 105,139 33,877 139,016
2003 107,590 25,463 133,053
2004 106,007 29,391 135,398
2005 102,347 33,172 135,519
2006 88,206 36,564 124,770
2007 80,475 32,116 112,591
2008 72,456 33,147 105,603
2009 84,076 34,681 118,757
Existing Residential Property
1999 516,681 192,334 709,015
2000 457,357 209,927 667,284
2001 629,347 182,935 812,282
2002 719,976 195,451 915,427
2003 771,333 204,883 976,216
2004 855,989 244,093 1,100,082
2005 867,668 256,496 1,124,164
2006 850,917 245,078 1,095,995
2007 901,289 276,796 1,178,085
2008 797,539 320,585 1,118,124
2009 881,425 350,132 1,231,557
Total
1999 599,583 215,351 814,934
2000 532,476 233,579 766,055
2001 713,862 209,412 923,274
2002 825,115 229,328 1,054,443
2003 878,923 230,346 1,109,269
2004 961,996 273,484 1,235,480
2005 970,015 289,668 1,259,683
2006 939,123 281,642 1,220,765
2007 981,764 308,912 1,290,676
2008 869,995 353,732 1,223,727
2009 965,501 384,813 1,350,314

Other includes: credit unions, caisses populaires, other smaller institutions and privately-insured loans in some areas.

From this data we can see that:

  • Bank market share for the number of units across the different categories was 71% versus 29% for ‘other types’ such as credit unions
  • The number of dwellings that banks provided mortgages for increased 11% in 2009 over the previous year vs 9% for “Others”

Average NHA and Conventional Mortgage Loans Approved by Lending Institutions, by Type of Lender

If we then take the loan values divided by the number of units we can look at the average loan values as follows.

Period  Banks  Others  Total
New Residential Construction
1999 $135,042 $99,313 $127,278
2000 $141,370 $127,571 $138,065
2001 $154,791 $133,071 $149,610
2002 $170,066 $142,877 $163,440
2003 $175,344 $150,826 $170,652
2004 $190,903 $162,416 $184,719
2005 $206,337 $181,027 $200,142
2006 $227,632 $170,388 $210,856
2007 $246,732 $195,552 $232,133
2008 $267,117 $213,119 $250,168
2009 $275,058 $229,645 $261,796
Existing Residential Property
1999 $94,901 $82,184 $91,451
2000 $95,325 $84,272 $91,848
2001 $102,494 $76,921 $96,735
2002 $110,624 $91,814 $106,608
2003 $123,810 $96,076 $117,989
2004 $133,130 $103,233 $126,496
2005 $143,740 $118,188 $137,910
2006 $155,734 $124,865 $148,831
2007 $169,960 $141,621 $163,301
2008 $177,406 $148,897 $169,232
2009 $179,369 $157,773 $173,229
Total
1999 $102,788 $88,860 $99,108
2000 $104,813 $92,743 $101,132
2001 $110,741 $87,638 $105,501
2002 $119,729 $102,090 $115,893
2003 $131,593 $110,244 $127,160
2004 $140,903 $110,270 $134,122
2005 $151,959 $126,127 $146,019
2006 $164,541 $131,609 $156,943
2007 $178,742 $149,668 $171,784
2008 $188,198 $158,120 $179,504
2009 $189,863 $166,138 $183,102
  • Interestingly for New Residential Construction the bank average loan was 20% higher than other institutions in 2009
  • Average loans for existing residential property and for both types was 14% higher for banks as well
  • ‘Other’ average loan values for New Residential Construction grew 8% 2009/2008 vs 3% for banks
  • ‘Other’ average loan values for Existing Residential Construction grew 6% 2009/2008 vs 1% for banks
  • ‘Other’ average loan values for both types grew 5% 2009/2008 vs 1% for banks

Residential Mortgage Credit by Lending Institutions, 1984-2009

The report also included interesting data on the volumes of mortgages issued by the different lenders.

Period Life companies Chartered banks Trust and loan companies Credit unions & caisses populaires Special purpose corps NHA mortgage-backed securities Finance  Companies, Non-Depository Credit Intermediaries and Other Institutions Pension funds Total
1984 10,666 33,634 31,335 16,000 13,556 6,527 111,717
1985 10,850 37,456 33,798 17,272 13,445 6,362 119,183
1986 11,413 44,654 38,353 19,515 13,736 6,485 134,157
1987 12,309 54,988 45,214 22,608 194 14,557 6,781 156,651
1988 12,894 68,434 52,869 25,995 756 17,169 7,275 185,391
1989 13,621 81,705 62,913 28,216 2,031 18,453 7,578 214,517
1990 16,001 96,503 70,606 30,655 4,083 19,569 7,864 245,281
1991 17,592 107,682 71,546 33,959 6,163 20,770 7,926 265,638
1992 19,279 121,107 69,346 38,593 9,534 22,381 7,693 287,933
1993 19,835 142,559 57,678 41,909 14,483 25,198 8,073 309,735
1994 20,621 164,977 44,898 44,414 16,824 29,708 8,185 329,627
1995 21,148 177,062 41,954 46,169 68 17,387 29,953 8,007 341,748
1996 21,719 191,357 39,748 48,231 1,064 15,755 30,415 7,724 356,012
1997 21,374 213,531 31,538 50,768 4,733 14,518 31,591 7,997 376,050
1998 20,024 232,194 22,373 52,198 10,951 17,893 31,521 7,857 395,010
1999 18,076 240,997 19,948 53,321 18,701 23,484 29,798 7,948 412,273
2000 17,773 262,143 6,111 55,443 22,516 30,760 28,090 8,653 431,489
2001 17,254 279,144 5,204 57,992 18,097 34,556 26,847 9,257 448,349
2002 16,755 306,602 5,505 63,331 15,002 39,318 26,045 9,037 481,596
2003 15,781 329,502 5,988 69,143 14,958 49,850 26,472 9,133 520,825
2004 15,383 352,373 6,753 76,614 14,878 68,471 27,486 9,621 571,579
2005 14,720 377,998 7,877 84,562 16,490 86,979 28,837 10,604 628,066
2006 14,574 405,605 7,901 93,731 21,147 109,590 30,985 11,740 695,272
2007 14,803 442,116 8,502 102,507 24,886 138,130 31,492 13,238 775,674
2008 15,340 469,576 9,839 110,435 22,702 197,260 30,688 15,309 871,148
2009 15,395 450,940 10,321 117,334 16,979 281,433 28,274 15,761 936,435

Residential Mortgage Credit by Lending Institutions, 1984-2009, Market share

We can also look at their market share over the years:

Period Life companies Chartered banks Trust and loan companies Credit unions & caisses populaires Special purpose corps NHA mortgage-backed securities Finance  Companies, Non-Depository Credit Intermediaries and Other Institutions Pension funds Total
1984 10% 30% 28% 14% 12% 6% 100%
1985 9% 31% 28% 14% 11% 5% 100%
1986 9% 33% 29% 15% 10% 5% 100%
1987 8% 35% 29% 14% 0% 9% 4% 100%
1988 7% 37% 29% 14% 0% 9% 4% 100%
1989 6% 38% 29% 13% 1% 9% 4% 100%
1990 7% 39% 29% 12% 2% 8% 3% 100%
1991 7% 41% 27% 13% 2% 8% 3% 100%
1992 7% 42% 24% 13% 3% 8% 3% 100%
1993 6% 46% 19% 14% 5% 8% 3% 100%
1994 6% 50% 14% 13% 5% 9% 2% 100%
1995 6% 52% 12% 14% 0% 5% 9% 2% 100%
1996 6% 54% 11% 14% 0% 4% 9% 2% 100%
1997 6% 57% 8% 14% 1% 4% 8% 2% 100%
1998 5% 59% 6% 13% 3% 5% 8% 2% 100%
1999 4% 58% 5% 13% 5% 6% 7% 2% 100%
2000 4% 61% 1% 13% 5% 7% 7% 2% 100%
2001 4% 62% 1% 13% 4% 8% 6% 2% 100%
2002 3% 64% 1% 13% 3% 8% 5% 2% 100%
2003 3% 63% 1% 13% 3% 10% 5% 2% 100%
2004 3% 62% 1% 13% 3% 12% 5% 2% 100%
2005 2% 60% 1% 13% 3% 14% 5% 2% 100%
2006 2% 58% 1% 13% 3% 16% 4% 2% 100%
2007 2% 57% 1% 13% 3% 18% 4% 2% 100%
2008 2% 54% 1% 13% 3% 23% 4% 2% 100%
2009 2% 48% 1% 13% 2% 30% 3% 2% 100%

You can see that this table shows that the Chartered Bank’s market share dropped 6% year over year in 2009. Also the chart below shows the market in 1999

Versus the market in 2009, as the Chartered Bank’s market share dropped 10%

Related Topics

Mortgage News / Mortgages

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