Best Mortgage Lenders in Canada
Listed below are the largest mortgage lenders in Canada ranked by lending volume. The figures are as of October 2017 and their original source is not recorded. On that data, Canada’s big 5 banks held two out of three mortgages, or approximately 70% market share, and RBC was the largest mortgage lender in Canada, with residential mortgages of more than C$311 billion. First National was the largest non-bank originator and underwriter of residential and commercial mortgages in Canada, with C$100.2 billion in total mortgages under administration as of October 31, 2017.
| Rank | Company | Residential Mortgages, C$b (10/2017) | Non-residential Mortgages, C$b (10/2017) |
|---|---|---|---|
| 1 | Royal Bank of Canada | 311.233 | 26.967 |
| 2 | Toronto-Dominion Bank | 280.045 | 44.850 |
| 3 | Bank of Nova Scotia | 269.692 | 2.357 |
| 4 | Canadian Imperial Bank of Commerce | 237.243 | 6.783 |
| 5 | Bank of Montreal (BMO) | 140.390 | 11.744 |
| 6 | Desjardins Group | 111.442 | n/a |
| 7 | First National Financial | 77.123* | 23.054** |
| 8 | National Bank of Canada | 57.770 | 1.519 |
| 9 | HSBC Bank Canada (sold to Royal Bank of Canada under an agreement announced in November 2022) | 23.584 | 0.003 |
| 10 | Home Trust Company (since combined with Fairstone Bank under Smith Financial Corporation) | 13.677 | 1.029 |
| 11 | Laurentian Bank of Canada | 20.605 | 3.759 |
| 12 | Canadian Western Bank (acquired by National Bank of Canada, completed 3 February 2025) | 6.986 | 8.485 |
| 13 | Tangerine Bank | 6.869 | 0.057 |
* Single-family residential mortgages
** Multi-unit residential and commercial mortgages
Changes since the October 2017 snapshot above: HSBC Bank Canada, ranked 9th, was sold to Royal Bank of Canada under an agreement announced in November 2022. National Bank of Canada completed its acquisition of Canadian Western Bank, ranked 12th, on 3 February 2025. Both acquirers appear separately in the table, so the balances shown cannot be summed as a current total. Home Trust Company, ranked 10th, continues under its own name after combining with Fairstone Bank under Smith Financial Corporation.
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