Market share of mortgage lenders in Canada 2023, by lender type
In 2023, banks held over 80 percent of the mortgages outstanding in Canada. Mortgage Investment Entities (MIEs) and private lenders only had a market share of 1.62 percent. The average mortgage rate in Canada has increased notably since 2021. This has led to the housing market slowing and the value of mortgages outstanding to plateau.