A recent Canada Mortgage & Housing Corporation report showed that home buyers, especially first-time buyers, were committed to using mortgage brokers rather than getting a home loan direct from mortgage lenders. CBC News reports that in Calgary the activity certainly reflects that. Lori Grill, a long-time broker in the city told the broadcaster: "We are definitely seeing more of the first-time home buyers” and highlights the ability of brokers to offer a more personalized service than the banks. The CMHC report showed an increased in using brokers, up from 32 per cent in 2012 to 42 per cent in 2015 and the CBC article says that young buyers are looking for personalized service and don’t like having to wait for banks to get back to them; they want great rates and they want them now!
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: