🍁 Residential Mortgage (+HELOC) Market Share in Canada (July 2025)
The Big Six banks, together with Desjardins, collectively control over 78% of the residential lending market.
🏡 Residential Real Estate Secured Lending (RESL):
More than 85% consists of residential mortgages, while the remaining are Home Equity Lines of Credit (HELOCs).
Key Insights:
- Dominance of the Big 7: The combined market share of the Big Six banks and Desjardins has increased from 76.3% to 78% over the past decade.
- Market Leader: RBC holds the largest share at 18.8%.
- Top Mortgage Finance Companies (MFCs): First National, MCAP, and the Nesto Group are the largest MFCs, collectively managing about 10% of residential loans.
Unlike banks and credit unions, MFCs don’t necessarily keep these loans on their balance sheets; they primarily manage them on behalf of investors.
Market Share of Residential Mortgage and HELOCs in Canada
| Lender | July 2015 Market Share | July 2025 Market Share ▼ |
|---|---|---|
| Big 7 | 76.30% | 78.00% |
| RBC | 17.40% | 18.80% |
| TD | 15.80% | 15.60% |
| Scotiabank | 13.50% | 12.60% |
| CIBC | 11.60% | 11.20% |
| BMO | 8.00% | 8.20% |
| Desjardins | 6.50% | 7.30% |
| National Bank | 3.50% | 4.20% |
Sources: Lenders' Annual & Quarterly Financial Reports, Statistics Canada
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