Monthly Market Insights€¦ · Mortgage Registrations by Lender Category From a lender perspective we can see that lenders in all categories experienced a decrease in mortgage registration

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Monthly Market InsightsJune 2020

Mortgage Registrations: Residential Properties Our industry is experiencing a difficult period full of uncertainty and change. Recently, we heard from our valued partners and customers that you have questions about the state of the market. With our authoritative data, we aim to highlight industry trends on a monthly basis through the Teranet Monthly Market Insights Report. These monthly publications will investigate trends related to lender market share and provide analysis of mortgage registration activity across Ontario compared to previous years.

As of May 2020, there were 38,800 residential mortgage transactions, which was a decrease from the 42,300 transactions in 2019 and 45,600 transactions in 2018. May is the first month in 2020 that experienced a decline in mortgage registrations compared to the same time in the previous year. While in April it appeared that residential mortgage transactions hadn’t been impacted by COVID-19, the drop in registrations in May seems to highlight the impact that the virus is starting to have on the market.

Within the first five months of 2020, there have been 190,780 mortgage registrations, representing a total dollar amount of $91 billion. This is a significant increase from the previous year, which

saw a total dollar amount of $75.9 billion, but falls short of the previous high of $94.6 billion in 2017.

Mortgage Registration Volume and Dollar Amount: Residential Properties (January to May 2020)

Mortgage Registrations: Residential Properties

Jan

2018

2019

2020

25K

30K

35K

40K

45K

50K

55K

Feb Mar Apr May Jun Jul Aug

Registration Month

Tota

l Vol

ume

of R

egis

trat

ions

Sep Oct Nov Dec

Mortgage Registration Volume and Dollar Amount: Residential Properties (January to May 2020)

Tota

l Reg

istr

atio

ns

Tota

l Dol

lar

Amou

nt

0K 0B

10B

20B

30B

40B

50B

70B

60B

100B

90B

80B

2012 20122013 20132014 20142015 20152016 20162017 20172018 20182019 20192020 2020

220K

200K

180K

160K

140K

120K

100K

80K

60K

40K

20K

223.25K

63.1B

176.98K

52.8B

164.60K

52.3B

183.28K

61.7B

204.72K

76.7B

222.04K 94.6B

182.40K 78.1B178.23K 75.9B

190.78K

91.0B

Data provided exclusively through LendView, powered by Teranet

Mortgage Registrations by MunicipalityWhen we look at mortgage registration volume by municipality, we can see that Cambridge, Windsor and Vaughan experienced the largest declines of 31.15%, 30.54% and 27.58% respectively in May 2020. This is a different picture than we saw last month when Richmond Hill, Milton and Vaughan had the largest decreases in mortgage registration volume. Vaughan is the only municipality of these that three municipalities that experienced a larger decrease in volume from April 2020 to May 2020.

All of the top 20 municipalities experienced a decrease in mortgage registration volume compared to the same time last year. This decline was least drastic in Whitby, which had a decline of 0.43% and Barrie where volume declined 2.22% compared to May 2019.

Mortgage Registrations by Lender CategoryFrom a lender perspective we can see that lenders in all categories experienced a decrease in mortgage registration volumes compared to May 2019. Individual Lenders, Private Lenders and Mortgage Finance Companies experienced the most significant decreases of 48.2%, 44.6% and 31.5% respectively. The lenders that experienced the smallest declines were the Big 6 Banks with a decline of 5.4% and Other Banks which experienced a volume decline of 3.5%.

Monthly Market Insights June 2020

Mortgage Registrations by Municipality: 2020

Richmond Hill 16.24%

January

28.19%

February

-34.06%

March

-49.25% -23.22%

April May

Milton -11.42% -4.53% -38.28 -23.22% -11.73%

Vaughan -2.47% 21.22% 8.89% -21.41% -27.58%

Oshawa -6.22% -7.73% 8.95% -2.18% -12.77%

Windsor 21.31% 19.69% 20.85% 1.43% -30.54%

Hamilton 3.09% 15.76% 14.56% 1.32% -11.81%

Kitchener 12.01% 11.52% 18.54% 2.71% -26.74%

Oakville 4.41% 9.30% 18.92% 4.63% -8.00%

Toronto -7.24% -0.35% 16.88% 6.97% -22.37%

Cambridge 26.65% 27.51% 39.94% 11.44% -31.15%

London 14.02% 6.40% 21.56% 12.08% -19.22%

Barrie 17.71% 16.98% 31.67% 11.986% -2.22%

Guelph 6.36% 8.30% 12.83% 11.67% -13.41%

Whitby 16.92% 19.08% 12.68% 13.92% -0.43%

Mississauga 7.72% -5.49% 14.11% 13.46% -13.28%

Markham 9.36% -16.49% 20.96% 115.17% -21.83%

Ajax 18.26% -1.76% 14.45% 15.58% -14.32%

Ottawa 22.92% 29.96% 20.76% 18.76% -14.05%

Brampton 14.53% 22.53% 22.02% 20.65% -13.59%

Burlington 9.29% -3.32% 12.97% 40.87% -13.87%

Mortgage Registrations by Lender Category

Individual Lenders

Private Lenders

Insurance Companies

Trust Company

Credit Union

Mortgage Finance Co.

Big 6 Banks

Other Banks

5.8%

22.2%

-17.9%

-9.6%

-3.4%

-14.1%

-19.9%

-52.1%

-8.6%

6.3%

-18.0%

-24.2%

-21.8%

-20.2%

-26.4%

-52.7%

-9.3%11.7%

-6.1%17.4%

-25.0%-16.7%

-0.8%-6.40%

-14.2%-6.4%

-22.4%-7.5%

-32.2%-11.2%

-31.2%-31.3%

0.6%

6.1%

-6.4%

11.9%

-14.4%

-17.2%

-7.7%

20.7%

1.5%

8.2%

23.2%

7.1%

-16.8%

-19.3%

-13.5%

-2.8%

7.4%1.5%

10.8%7.4%

40.6%-2.4%

16.6%7.6%

0.1%-11.5%

5.0%-14.8%

6.1%-4.8%

20.3%1.3%

-0.9%

6.3%

15.1%

0.2%

38.4%

2.8%

19.8%

46.9%

-9.4%

-4.3%

-14.9%

1.0%

13.7%

10.7%

31.6%

42.6%

-48.2%-39.8%

-44.6%-28.6%

-22.7%-22.9%

-26.7%5.6%

-26.8%5.2%

-31.5%7.5%

-5.4%22.6%

-3.5%48.5%

February

2018 2019 2020

March April May February March April May February March April May




Mortgage Registrations by Property Type

Other Residential

Condo

Semi Detached

Single Detached

Row

Multi Residential

15.36%

-12.91%

-19.93%

-20.07%

-17.97%

-13.53%

3.52% 11.00%

-26.68% -32.13%

-27.73% -28.09%

-26.01% -26.79%

-31.56% -32.09%

-32.43% -18.97%

10.37%

1.52%

-19.34%

-10.30%

-20.60%

-8.62%

2.19%

15.86%

-16.57%

8.12%

-21.01%

-6.73%

-5.11%

4.81%

-11.83%

-12.69%

-17.33%

-1.63%

4.20%6.84%

18.16%4.80%

4.38%-0.26%

5.31%-6.21%

4.46%-14.93%

12.68%-2.89%

18.56%

11.44%

24.96%

17.54%

18.99%

23.51%

12.33%

19.32%

22.17%

22.30%

19.09%

22.05%

-12.42%6.50%

-22.32%8.71%

-12.18%12.33%

-13.19%13.25%

-13.39%19.68%

-15.48%38.56%

February

2018 2019 2020

March April May February March April May February March April May

When we look at data in relation to sales registrations for residential properties, volumes fell by 27.5% from May 2019 to May 2020. This decline followed volumes in the first four months of the year that experienced similar monthly trends compared to 2018 and 2019. The sales registrations for residential properties seen in May 2020 are the lowest recorded in the last 15 years. The property type that

experienced the steepest decline in sales registrations were condos. Condo volume declined by 38.28% compared to May 2019, followed by multi residential properties, row houses, semi-detached and single detached properties that fell by 33.41%, 28.32%, 22.34% and 22.34% respectively.



When we look at mortgage registrations in relation to property types we can see that there were no increases in volume from May 2019 to May 2020. Condos experienced the largest volume decline

of 22.32%, while all other property types experienced a decline between 12% and 15%.

Mortgage Registrations by Property Type

Sales Registrations: Residential Properties

Resi

dent

ial T

rans

actio

ns

Transaction Month

1 2 3 4 5 6 7 8 9 10 11 12 13

14K

15K

16K

17K

18K

19K

20K

21K

22K

23K

24K

25K

26K

27K

28K

29K

30K

31K

32K

33K

34K

Sales Registrations: Residential Properties

2018

Reg Year

2019

2020

Mortgage registration: mortgages registered in the land registry against a property during a specific time frame.

Sales registration: a property being transacted, transferred or sold from one owner to another for an amount agreed on between both parties. These may be new property or resale properties.


For Media Inquiries, please contact Emily BoyceMarketing Manager, Financial Services [email protected]

For more information about the data presented in this publication, please contact Kan Zhu Director, Financial Services & Data Analytics [email protected]

For more information about Teranet Solutions, please contact:

[email protected]@teranet.ca [email protected] [email protected]@teranet.ca

Ottawa/Qué[email protected]

Western [email protected]



Overall, based on the data from May 2020, we can start to see the impact that COVID-19 is having on the Ontario mortgage market. As regions across Ontario begin to slowly open up it will be interesting to see if the decline in mortgage registration volume continues or if these trends will change as the pandemic continues over the next few months and beyond. In the next edition of the Monthly Market Insights Report we’ll explore these trends with the addition

of June’s data, which may show a different picture. If you need more information about mortgage registration volumes or other title data trends, the Teranet Data Science Lab can help you dig deeper. Our data scientists will work closely with you to answer your questions with insights from our proprietary database. Contact your Teranet Account Manager today if you’d like to learn more.

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Monthly Market Insights€¦ · Mortgage Registrations by Lender Category From a lender perspective we can see that lenders in all categories experienced a decrease in mortgage registration

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