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Iqaluit Mortgage Information

Average Mortgage Loan in Iqaluit: $288,510

Busy Days for Online Applications within Iqaluit

The bar graph below illustrates the busy days for mortgage applications that were received by Super Brokers. A combined total of all occurrences of each day are represented for the past 5 years. In Iqaluit, the day with the most volume, having more than 24.00% of all inquiries, is Monday. In comparison, Thursday's are the slowest day with only 12.00% of all inquiries.

Rank Day of the Week Percentage of Applications
1 Monday: 24.0%
2 Friday: 24.0%
3 Tuesday: 16.0%
4 Wednesday: 12.0%
5 Sunday: 12.0%
6 Thursday: 12.0%
Busy Days Report for Iqaluit Mortgages

Note: Only days that have had morgages from Iqaluit, NU are shown.

Peak Hours for Mortgage Applicants within Iqaluit

Inquiries are received 24 hours a day via our web site. The report shown below represents the peak hours within a 24-hour period. The data is taken from all days of all years.


Peak Hours Graph for Mortgages in Iqaluit
TimePeriod (24 Hour) Percentage
of Applications
12AM 00:00 to 00:59: 0%
1AM 01:00 to 01:59: 4.0%
2AM 02:00 to 02:59: 0%
3AM 03:00 to 03:59: 0%
4AM 04:00 to 04:59: 0%
5AM 05:00 to 05:59: 4.0%
6AM 06:00 to 06:59: 0%
7AM 07:00 to 07:59: 0%
8AM 08:00 to 08:59: 4.0%
9AM 09:00 to 09:59: 12.0%
10AM 10:00 to 10:59: 0%
11AM 11:00 to 11:59: 12.0%
TimePeriod (24 Hour) Percentage
of Applications
Lunch 12:00 to 12:59: 8.0%
1PM 13:00 to 13:59: 8.0%
2PM 14:00 to 14:59: 12.0%
3PM 15:00 to 15:59: 12.0%
4PM 16:00 to 16:59: 4.0%
5PM 17:00 to 17:59: 12.0%
6PM 18:00 to 18:59: 4.0%
7PM 19:00 to 19:59: 0%
8PM 20:00 to 20:59: 4.0%
9PM 21:00 to 21:59: 0%
10PM 22:00 to 22:59: 0%
11PM 23:00 to 23:59: 0%

Nunavut Mortgage Originations Compared to all other Provinces and Territories


Online Mortgage Origination for the Province or Territory of Percentage of Applications
Alberta: 21.07%
British Columbia: 10.40%
Manitoba: 2.00%
New Brunswick: 2.53%
Newfoundland and Labrador: 1.30%
Nova Scotia: 3.29%
Northwest Territories: 0.49%
Nunavut: 0.10%
Ontario: 47.31%
Prince Edward Island: 0.51%
Quebec: 3.94%
Saskatchewan: 5.04%
Yukon: 0.47%

How Iqaluit Ranks in Nunavut for Mortgage Business

The following table lists how Iqaluit ranks for mortgage applications sent to our website. The data collected is over a 7-year time frame. A location has to have a minimum of three applications to make the list. To find more information, simply click on a location.

RankLocation Contribution
1IQALUIT, NU 0.043%
2RANKIN INLET, NU 0.010%
3GJOA HAVEN, NU 0.009%
4CAMBRIDGE BAY, NU 0.007%
5PANGNIRTUNG, NU 0.005%
6IGLOOLIK, NU 0.005%

Types of Mortgage Inquiries Received from Iqaluit


Type of Mortgage Application Form Selected  Percentage
of Inquiries
Mortgage Pre-approval: 28.0%
New Home Purchase: 24.0%
No Money Down Mortgage (discontinued): 20.0%
Refinance / Debt Consolidation: 12.0%
First-time Home Buyer: 12.0%
Other: 4%
 
Total Application Types Found: 6

Age Demographics for Iqaluit Applicants

Average age: 43
Oldest age: 60
Youngest age: 28


Incomes for Iqaluit Applicants

The numbers below represent the average income of Canadians living in Iqaluit who have applied for a mortgage loan using the pre-approval application on the Mortgage Super Brokers' web site.

Average annual gross income for
mortgage applicants in Iqaluit: $104,597.50
applicants within all of Canada: $60,852.54
Difference: $43,744.96
  
mortgage co-applicants in Iqaluit: $85,666.67
co-applicants within all of Canada: $43,965.51
Difference: $41,701.15

Since the average income of Iqaluit is notability higher than our national average, we have included the MEDIAN annual gross income for this town. A reason for such a high average is usually due to a high income that is just under our cut-off of acceptable incomes of <$500,000. In rare cases, some applicants may have entered an extra digit (ie. 400000 instead of 40000), which will also sway the averages in smaller areas. In such a case, we will correct the data accordingly.

Median annual gross income for
mortgage applicants in Iqaluit: $99,000.00
applicants within all of Canada: $60,852.54
Difference: $38,147.46

Note: Commercial loan amounts were not included for this survey, only residential mortgages from Iqaluit, Nunavut were used.

Last mortgage report update for Iqaluit: Friday, July 1, 2016
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