Will mortgage brokers some day be able to deal directly with CMHC? How long will the big 5 banks remain relevant? This Edmonton Journal story raises interesting questions: Story Link
Our naturally-biased prediction? Mortgage brokers will control 50% of the mortgage market within 24-36 months…up from 30% today.
(Late breaking retort: VHB notes that banks fulfill a vital role in risk assessment, something mortgage brokers aren’t incentivized to do.)
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