When it comes to tracking trends in Canadian mortgage activity, data gaps continue to pose challenges. Using data from consumer credit reports, CMHC has analyzed different types of new mortgage loans. Here are the categories of new loans we were able to analyze using the data:
- New owners
- Repeat buyers
- Renewals with a new lender
- Multiple mortgage holders (consumers with multiple mortgages on their credit file)
Renewals with the same lender are usually not captured in the data. This is because the open dates on the consumer reports don’t change, and the mortgages therefore can’t be detected as new.