In recent months, our industry has experienced a difficult period full of uncertainty and change with the ongoing COVID-19 pandemic.
We have heard from our valued partners and customers that you have questions about the state of the mortgage market during this time.
With our authoritative data, we aim to answer those questions.
The new Teranet Monthly Market Insights Report highlights industry trends on a monthly basis. We will investigate trends related to lender market share and provide analysis of mortgage registration activity across Ontario compared to previous years.
The first report for May 2020 looks at mortgage registration data from January 2020 to May 2020, including:
- As of April 2020, there were 37,600 residential mortgage transactions. This was an increase from the 34,600 transactions in 2019 and 35,700 transactions in 2018.
- Within the first four months of 2020, there were 150,570 mortgage registrations on residential properties, representing a total dollar amount of $70.6 billion.
- All of the top 20 municipalities in Ontario saw declines in mortgages registered from March to April 2020, with the exception of Burlington, which saw an increase.
- By lender category, individual lenders, private lenders, and insurance companies saw declines in mortgage registrations while the big 6 banks and other banks saw an increase.
- All property types saw a year-over-year increase in mortgage registrations in April 2020, with the exception of “other residential,” which includes seasonal properties and mobile homes.
See more data in the full May 2020 Monthly Market Insights Report. Download your copy here: https://ci23.actonsoftware.com/acton/attachment/2216/f-7c489c97-9c6f-47e2-a357-06af0ad6e5dd/1/-/-/-/-/Teranet%20Monthly%20Market%20Insights%20Newsletter%20Template%20Final.pdf
Sign up to receive the Monthly Market Insight Reports straight to your inbox: https://ci23.actonsoftware.com/acton/fs/blocks/showLandingPage/a/2216/p/p-0065/t/page/fm/0
Purview has more in-depth property insights in our solutions for mortgage and financial professionals. Learn more by calling 1-855-787-8439 or visiting www.purview.ca.