Following on from my last article on mortgage market shares across Quebec, today I am going to share regional trends in the distribution of mortgages between institutions. Moreover, we note that the geographical coverage of top lender in Houston Tx influences the type of buildings mortgaged.
The results come from the JLR Mortgage Market Report. Note that market shares include only mortgages contracted for the acquisition of a new property and not renewals.
Market shares by type of building
In 2015, Desjardins Group collected 56% of mortgages on newly acquired land, while its share of the mortgage market for all properties was 38.7%. Desjardins’ good performance in this sector can be explained by its large presence in rural areas where most of the land is located.
With respect to condominiums, this is a property type that is very prevalent in large urban centers, which may explain why TD Bank, RBC and BMO are gaining higher market shares for these types of buildings. .
Non-traditional top lender in Houston Tx (other than the 8 largest institutions) are particularly successful in the industrial sector with 35% of the mortgage market share on new acquisitions and 26% in the commercial property sector. This is a much larger proportion than the 12% they get in the overall market. This difference can be explained by some top lender in Houston Tx who specialize in a particular type of credit. Farm Credit Canada, for example, focuses on agriculture and, as a result, has higher market shares in the commercial sector.
Desjardins (28.7% of market share) lost some ground in the Montreal CMA in 2015, while National Bank (13.5%) and CIBC (5.4%) performed better than last year. Compared to the market shares they obtain in the rest of Quebec, BMO (9.3%), RBC (11.8%) and TD (9.6%) are particularly successful in Montréal. It must be said that these institutions have a greater physical presence in Montreal than in other regions.
Desjardins Group has a strong presence in this region, with 44.7% of the mortgage market in 2015. On the other hand, its market share has decreased particularly to the benefit of, among others, small lenders who have gained 1.0 percentage point of the shares. market.
Some banks more present in English Canada than in Quebec do better in this region than in the rest of the province. For example, Scotiabank obtains 11.7% of the market in this region, while in Quebec as a whole, it financed only 4.3% of new mortgages issued in 2015. RBC (12.0%) and TD (12.9%) outperforms in this region compared to their market share across the province.
Desjardins is doing particularly well in this CMA with 43.9% of market share. On the contrary, Scotiabank is virtually absent with only 0.9% of the 2015 mortgage market.
CMA of Saguenay
In the Saguenay CMA, the number of mortgages linked to new acquisitions fell by 11% in 2015 to reach 2,000 mortgages. This decrease can be explained by the low level of sales recorded in this region in 2015. Desjardins Group’s market share increased by 4.7 percentage points in the Saguenay compared with 2014. The cooperative obtained 45.1% of the mortgage market. National Bank is also performing well in this region with 18% market share compared to 14% across the province.
BMO is improving its results in this region with a greater proportion of mortgages in 2015 than in 2014. Desjardins continues to be very active in this sector with 56.1% of mortgages associated with new acquisitions granted in this territory. 2015.
The rest of the province is much less dense in terms of population and housing, but this large territory was still home to 37,300 mortgages on newly acquired properties in 2015. Desjardins Group is particularly present outside the major CMA, which allowed it to sign 52.1% of mortgages in these areas.