Residential mortgage market shares in Canada (October 31, 2023)
Key Insights:
- 1. RBC makes up 20% of Canada's mortgage market, potentially increasing to 21.7% with an HSBC Canada acquisition.
- 2. The Big 5 banks collectively account for 69% of Canada's mortgage market.
- 3. Desjardin's market share is close to BMO and surpasses National Bank.
- 4. MCAP and First National manage a significant amount of mortgages in Canada, but only a small portion is held on their books.
Notes:
Similar to CMHC statistics, we did not include any HELOCs, including amortizing HELOCs, as part of the mortgage portfolios All information is based on mortgages held on the lender's books, except for MCAP and First National, where the information is based on mortgages under administration.
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- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.