Canadian Mortgage Statistics & Market Share Results Released

Modern woman working from her home office

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

 

PeriodBanksOthersTotal
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   
199982,90223,017105,919
200075,11923,65298,771
200184,51526,477110,992
2002105,13933,877139,016
2003107,59025,463133,053
2004106,00729,391135,398
2005102,34733,172135,519
200688,20636,564124,770
200780,47532,116112,591
200872,45633,147105,603
200984,07634,681118,757
Existing Residential Property   
1999516,681192,334709,015
2000457,357209,927667,284
2001629,347182,935812,282
2002719,976195,451915,427
2003771,333204,883976,216
2004855,989244,0931,100,082
2005867,668256,4961,124,164
2006850,917245,0781,095,995
2007901,289276,7961,178,085
2008797,539320,5851,118,124
2009881,425350,1321,231,557
Total   
1999599,583215,351814,934
2000532,476233,579766,055
2001713,862209,412923,274
2002825,115229,3281,054,443
2003878,923230,3461,109,269
2004961,996273,4841,235,480
2005970,015289,6681,259,683
2006939,123281,6421,220,765
2007981,764308,9121,290,676
2008869,995353,7321,223,727
2009965,501384,8131,350,314

 

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.

 

PeriodLife companiesChartered banksTrust and loan companiesCredit unions & caisses populairesSpecial purpose corpsNHA mortgage-backed securitiesFinance  Companies, Non-Depository Credit Intermediaries and Other InstitutionsPension fundsTotal
198410,66633,63431,33516,000  13,5566,527111,717
198510,85037,45633,79817,272  13,4456,362119,183
198611,41344,65438,35319,515  13,7366,485134,157
198712,30954,98845,21422,608 19414,5576,781156,651
198812,89468,43452,86925,995 75617,1697,275185,391
198913,62181,70562,91328,216 2,03118,4537,578214,517
199016,00196,50370,60630,655 4,08319,5697,864245,281
199117,592107,68271,54633,959 6,16320,7707,926265,638
199219,279121,10769,34638,593 9,53422,3817,693287,933
199319,835142,55957,67841,909 14,48325,1988,073309,735
199420,621164,97744,89844,414 16,82429,7088,185329,627
199521,148177,06241,95446,1696817,38729,9538,007341,748
199621,719191,35739,74848,2311,06415,75530,4157,724356,012
199721,374213,53131,53850,7684,73314,51831,5917,997376,050
199820,024232,19422,37352,19810,95117,89331,5217,857395,010
199918,076240,99719,94853,32118,70123,48429,7987,948412,273
200017,773262,1436,11155,44322,51630,76028,0908,653431,489
200117,254279,1445,20457,99218,09734,55626,8479,257448,349
200216,755306,6025,50563,33115,00239,31826,0459,037481,596
200315,781329,5025,98869,14314,95849,85026,4729,133520,825
200415,383352,3736,75376,61414,87868,47127,4869,621571,579
200514,720377,9987,87784,56216,49086,97928,83710,604628,066
200614,574405,6057,90193,73121,147109,59030,98511,740695,272
200714,803442,1168,502102,50724,886138,13031,49213,238775,674
200815,340469,5769,839110,43522,702197,26030,68815,309871,148
200915,395450,94010,321117,33416,979281,43328,27415,761936,435

 

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

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

 

PeriodLife companiesChartered banksTrust and loan companiesCredit unions & caisses populairesSpecial purpose corpsNHA mortgage-backed securitiesFinance  Companies, Non-Depository Credit Intermediaries and Other InstitutionsPension fundsTotal
198410%30%28%14%  12%6%100%
19859%31%28%14%  11%5%100%
19869%33%29%15%  10%5%100%
19878%35%29%14% 0%9%4%100%
19887%37%29%14% 0%9%4%100%
19896%38%29%13% 1%9%4%100%
19907%39%29%12% 2%8%3%100%
19917%41%27%13% 2%8%3%100%
19927%42%24%13% 3%8%3%100%
19936%46%19%14% 5%8%3%100%
19946%50%14%13% 5%9%2%100%
19956%52%12%14%0%5%9%2%100%
19966%54%11%14%0%4%9%2%100%
19976%57%8%14%1%4%8%2%100%
19985%59%6%13%3%5%8%2%100%
19994%58%5%13%5%6%7%2%100%
20004%61%1%13%5%7%7%2%100%
20014%62%1%13%4%8%6%2%100%
20023%64%1%13%3%8%5%2%100%
20033%63%1%13%3%10%5%2%100%
20043%62%1%13%3%12%5%2%100%
20052%60%1%13%3%14%5%2%100%
20062%58%1%13%3%16%4%2%100%
20072%57%1%13%3%18%4%2%100%
20082%54%1%13%3%23%4%2%100%
20092%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%

 

bank_marketshare_1999.width-500.jpg

 

RATESDOTCA Team

RATESDOTCA Team,

The RATESDOTCA editorial team are experienced writers focused on sharing stories and bringing you the latest news in insurance and personal finance. Our goal is to provide Canadians with the information and resources they need to make better insurance and financial decisions.

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