Robert McLister·General·August 8, 2007Mortgage Brokers Today Joe Tomkins recently did a story in the Nanaimo News Bulletin on mortgage brokers. Here’s some highlights: Mortgage brokers have doubled their market share in Canada over the past five years. People clearly value the advice and one-stop shopping that only a good mortgage planner can provide. While brokers handle roughly 1/3 of all Canadian mortgages, in the U.S. Tomkins says the number is close to 85%. (That may be high. The figure commonly quoted is 70%.) Canada’s mortgage industry is being inundated with newcomers. Be careful who you work with. In most cases, experience matters, and it cannot be taught. Brokers are increasingly “trying to develop an advice-based relationship” with clients instead of focusing strictly on finding the lowest interest rate. Clients should ask what advice a mortgage planner can provide. If it’s all about the rate, Tomkins says, “look elsewhere.” Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.