More Canadians than ever are choosing mortgage brokers because they see benefit in the expertise and unbiased advice that only a mortgage professional like myself can provide.
The latest consumer survey, conducted by Canada Mortgage and Housing Corporation (CMHC), confirms “mortgage broker market share is trending upwards for most market segments”. The use of mortgage brokers increased to 42% overall in 2015; that’s a whopping 30% increase versus 2014. First time homebuyers that choose a mortgage broker over a bank surged to 55% in 2015.
According to the survey, 50% of Canadians never negotiate or are not aware of the multitude of options that exist at renewal time. This could result in them paying thousands of dollars in unnecessary interest. Mortgage renewal time is a window of opportunity that all homeowners should exploit to reduce expenses as much as possible. It is the ideal time to look at your options regarding rates, mortgage types and terms, or evaluate strategies that could save you thousands in interest and pay your mortgage off sooner.
It’s clear that using a mortgage broker, who has the knowledge and access to the entire mortgage market, makes sense. If you know someone looking to buy a home or is in the process of renewing their mortgage, contact me today. I can help.
Mortgage Alliance Meridian Pacific Mortgages