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%
