First-time Buyers Increase Their Use of Mortgage Brokers

Survey results show that during the past twelve months about one-quarter of all mortgage transactions were arranged through the mortgage broker channel. Most notably, broker share among first-time buyers has increased to 44%, up from 35% in 2007. Among other market segments broker share has remained stable. In particular, broker share among those renewing their mortgage continues be relatively stable at 12%.

Demographically, brokers tend to do better among younger purchasers aged 25 to 34 years (42% share), and female purchasers (43% share).

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Constantine Isslamow


Source: CMHC


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