The percentage of Canadians using mortgage brokers to buy their homes has increased significantly, according to a report released today.
The Deloitte report, Winning Strategies in the Brokered Mortgage Marketplace, said that in the 1990s mortgage brokers numbered in the hundreds and were a last resort for borrowers unable to obtain a mortgage directly from a bank or credit union.
“Over the last decade, an increasing number of viable options for borrowers have surfaced,” said the report. “In addition to branch-based lenders, borrowers can now consult with the banks’ own mobile mortgage specialists as well as independent brokers – while also conducting their own research online.
“In this changing and information-abundant environment, the mortgage brokerage channel has emerged as a legitimate competitor.”
Click here to read the full article in the Calgary Herald