The Mortgage Broker channel in Canada is highly competitive. Research shows that consumers recently renewing their mortgages with Mortgage Brokers came out way ahead of those renewing with other channels.
Maritz Research Canada recently conducted a study of 2,000 Canadians.
The study focused on Canadians' opinions of the mortgage industry and specific
feedback on their mortgages and experiences with mortgage professionals.
Those who renewed or renegotiated recently with a Mortgage Broker
reported an average rate decrease of 1.4 per cent from posted rates, compared
with 1.0 per cent among all renewers. It is easy to understand why Broker
market share is 27% on early term renegotiation and has potential to grow much
higher.
Just one-third of Canadians say they have a good or full understanding
of the services provided by Mortgage Brokers. The importance of awareness is
clear: Broker market share is roughly twice as high among those who have a good
or full understanding of Broker services when compared with those who have a
lesser understanding.
The findings demonstrate that Mortgage Brokers could benefit from
better explaining their services to home buyers in their local communities.
Satisfied clients can also help their friends and families to save on mortgage
renewals and renegotiations, by passing on their knowledge to alleviate any
uncertainty about the Broker process.
Calculate the potential payments on your next mortgage using the CENTUM
Mortgage Calculator amortization tool. Click here: Mortgage Analyzer
Got questions? We've got answers! E-mail me now at
anne_brill@centum.ca. I'm also available directly at 416-565-7795.
Anne Brill
Mortgage Agent
License # M08005655
Centum Metrocapp Wealth Solutions Inc.
License #12147
716 Gordon Baker Road, Unit 204 A
Toronto, ON M2H 3B4
Tel: 416-289-2224
Fax: 1-888-813-9403
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