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Teranet Monthly Market Insights Report – Which Lenders are Registering More Mortgages in Ontario?
Due to the ongoing pandemic, the mortgage industry has experienced uncertainty, like never before. As the COVID-19 cases decrease and Ontario moves forward with its reopening plans – many wonder what will happen to the mortgage market?
The Teranet Market Insights Report addresses the questions and concerns that our valued partners and customers have. This monthly report features our authoritative data and highlights key industry trends, particularly in relation to mortgage registrations.
Here, we are addressing a few frequently asked questions including:
- What is the state of the lending market?
- Which lenders are registering more mortgages during the pandemic?
In a nutshell, in 2020, lenders across all categories, except Other Banks (banks other than the Big 6 Banks), experienced a decrease in mortgage registration volumes compared to June 2019.
Other Banks experienced a 6.1% increase in mortgage registration volumes compared to June 2019.
Individual Lenders, Private Lenders, and Credit Unions experienced the most significant decline of 28.8%, 25.6%, and 17.4% respectively.
The lenders that experienced the smallest declines were the Big 6 Banks with a decrease of 2.8%.
While these numbers may seem bleak, there is an upside. Last month, lenders across all categories saw an uptick in volume compared to May 2020. This shows that even though the volumes are still below those during the same time in 2019, there has been a positive upward trend.
For an in-depth analysis of the lender market share and mortgage registration activity across Ontario, see the full Monthly Market Insights Report. Download your copy here: https://a2216.actonsoftware.com/acton/attachment/2216/f-7dd6a7ae-c9b6-43a3-89aa-f2cee2ad00c7/1/-/-/-/-/Teranet%20Monthly%20Market%20Insights%20Newsletter%20June%202020%20R2.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
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