Written by  Omid Jalili

People are looking more towards mortgage brokers to help them get the most from their money before they sign on the dotted line. This trend has just been reported by CAAMP Chief Economist Will Dunning in the November report and it spells good news for the industry and great rates and quality service for the consumer.

The independent pollster Maritz was charged with conducting the survey of more than 2,000 Canadians and that found that the move to mortgage brokers was taking an appreciative portion of the market share.   A full thirty two percent of those polled reported they used a mortgage broker to help get them the best deal possible and while the survey also said that 52 percent went to the bank, the gap between the numbers is starting to close.

People in the industry are calling this one of the most competitive years in the last ten and the competition is fierce between banks and mortgage brokers. There are  some things that Canadians need to look for to make sure they’re getting the right professionals here and at the top of the list is accreditation.

The Canadian Association of Accredited Mortgage Professionals is one of the regulator bodies that helps to make sure interested people are getting the kind of professional quality help they deserve. The recent numbers also suggest the gains that mortgage brokers are seeing comes from credit unions, and while the biggest shares of the industry still remains with the banks, that spread is starting to close toward favouring the mortgage brokers.

Canadians also need to remember that mortgage brokers don’t get their fees from the consumers. The money they get for their services comes from the financial institutions themselves. It makes sense to look for the professional that will find you the best rates in a competitive market.