Who Are The Top Broker Lenders?

Marci • March 28, 2017

There’s no doubt that you know the names of the major chartered banks in Canada, it’s hard to avoid them. There’s no need to even list them here, with the millions upon millions they spend in advertising dollars, you know who the are. But how many of the top ten broker channel lenders could you name? Probably not that many, and that’s okay.

You see, where the big banks spend a crazy amount of money building awareness for their brands (thus increasing the cost of their products), broker channel lenders rely on independent mortgage professionals to distribute their mortgage products. Products that are more flexible for the consumer, priced more favourably, and have no hidden clauses or malicious fine print. Instead of relying on brand loyalty to earn and keep your business, broker channel lenders rely on the merits of their products. This is a really good thing for you! 

One question that is often asked is, “Are broker channel lenders safe? I mean, I’ve never heard of this lender before”. Here is the simple answer. Yes. Mortgage lending in Canada is highly regulated, and any lender that is represented through the broker channel has been properly vetted, and is legally allowed to lend you money. You have nothing to worry about when it comes to security, besides, you have their money, they don’t have yours! 

So, in an effort to bring awareness to some of the broker channel’s top lenders, let’s have a look at Canadian Mortgage Trends, a publication of Mortgage Professionals Canada  and their release “Broker Lender Market Share Q4 2016” originally published on March 14th 2017, which goes through the top ten broker channel lenders, and how much business they write as a percentage of the overall industry.

Have a look through the list, how many of these lenders do you recognize? These are the real players providing Canadians with choice on the path to homeownership! 

If you would like to discuss your mortgage options, please contact me anytime! 

Broker Lender Market Share Q4 2016

Mortgage volumes in the broker channel continued to grow in the fourth quarter. D+H data reportedly confirms that brokers did 12% more business in Q4, versus the same period last year. 

Some of that business was an attempt by borrowers to beat the government’s mortgage rule changes. Those policies came into effect on October 17, 2016 (new high-ratio insurance restrictions), November 30, 2016 (new low-ratio insurance restrictions) and January 1, 2017 (new insurer capital requirements).

But these weren’t the only headlines last quarter.

The top 10 broker channel lenders now account for a whopping 87.1% of broker volume, as of Dec. 31, 2016. That’s the highest ratio we’ve ever seen since CMT began tracking this data in 2010.

And that trend may be here to stay. Large lenders have an edge that’s more vital than ever: more funding options. Smaller non-balance sheet lenders are now under the gun, given the Finance Department’s policy rampage against mortgage competition.

What everyone wants to know now is, how will Q1 play out? Anecdotally, most non-bank lenders and brokers we query have seen business drop roughly 15-20% year-over-year. There are exceptions, of course, banks being one of them. Most expect Scotiabank and TD to light it up in calendar Q1 as they’re among the most cost effective options now for uninsurable mortgages.

 

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Bank of Canada Rate Announcement Dec 10th, 2025

By Marci Deane • December 10, 2025
Bank of Canada maintains policy rate at 2.1/4%. FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario December 10, 2025 The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Major economies around the world continue to show resilience to US trade protectionism, but uncertainty is still high. In the United States, economic growth is being supported by strong consumption and a surge in AI investment. The US government shutdown caused volatility in quarterly growth and delayed the release of some key economic data. Tariffs are causing some upward pressure on US inflation. In the euro area, economic growth has been stronger than expected, with the services sector showing particular resilience. In China, soft domestic demand, including more weakness in the housing market, is weighing on growth. Global financial conditions, oil prices, and the Canadian dollar are all roughly unchanged since the Bank’s October Monetary Policy Report (MPR). Canada’s economy grew by a surprisingly strong 2.6% in the third quarter, even as final domestic demand was flat. The increase in GDP largely reflected volatility in trade. The Bank expects final domestic demand will grow in the fourth quarter, but with an anticipated decline in net exports, GDP will likely be weak. Growth is forecast to pick up in 2026, although uncertainty remains high and large swings in trade may continue to cause quarterly volatility. Canada’s labour market is showing some signs of improvement. Employment has shown solid gains in the past three months and the unemployment rate declined to 6.5% in November. Nevertheless, job markets in trade-sensitive sectors remain weak and economy-wide hiring intentions continue to be subdued. CPI inflation slowed to 2.2% in October, as gasoline prices fell and food prices rose more slowly. CPI inflation has been close to the 2% target for more than a year, while measures of core inflation remain in the range of 2½% to 3%. The Bank assesses that underlying inflation is still around 2½%. In the near term, CPI inflation is likely to be higher due to the effects of last year’s GST/HST holiday on the prices of some goods and services. Looking through this choppiness, the Bank expects ongoing economic slack to roughly offset cost pressures associated with the reconfiguration of trade, keeping CPI inflation close to the 2% target. If inflation and economic activity evolve broadly in line with the October projection, Governing Council sees the current policy rate at about the right level to keep inflation close to 2% while helping the economy through this period of structural adjustment. Uncertainty remains elevated. If the outlook changes, we are prepared to respond. The Bank is focused on ensuring that Canadians continue to have confidence in price stability through this period of global upheaval. Information note The next scheduled date for announcing the overnight rate target is January 28, 2026. The Bank’s next MPR will be released at the same time.

Is Refinancing Your Mortgage a Good Way to Consolidate Debt?

By Marci Deane • December 3, 2025
If you're a homeowner juggling multiple debts, you're not alone. Credit cards, car loans, lines of credit—it can feel like you’re paying out in every direction with no end in sight. But what if there was a smarter way to handle it? Good news: there is. And it starts with your home. Use the Equity You’ve Built to Lighten the Load Every mortgage payment you make, every bit your home appreciates—you're building equity. And that equity can be a powerful financial tool. Instead of letting high-interest debts drain your income, you can leverage your home’s equity to combine and simplify what you owe into one manageable, lower-interest payment. What Does That Look Like? This strategy is called debt consolidation , and there are a few ways to do it: Refinance your existing mortgage Access a Home Equity Line of Credit (HELOC) Take out a second mortgage Each option has its own pros and cons, and the right one depends on your situation. That’s where I come in—we’ll look at the numbers together and choose the best path forward. What Can You Consolidate? You can roll most types of consumer debt into your mortgage, including: Credit cards Personal loans Payday loans Car loans Unsecured lines of credit Student loans These types of debts often come with sky-high interest rates. When you consolidate them into a mortgage—secured by your home—you can typically access much lower rates, freeing up cash flow and reducing financial stress. Why This Works Debt consolidation through your mortgage offers: Lower interest rates (often significantly lower than credit cards or payday loans) One simple monthly payment Potential for faster repayment Improved cash flow And if your mortgage allows prepayment privileges—like lump-sum payments or increased monthly payments—those features can help you pay everything off even faster. Smart Strategy, Not Just a Quick Fix This isn’t just about lowering your monthly bills (although that’s a major perk). It’s about restructuring your finances in a way that’s sustainable, efficient, and empowering. Instead of feeling like you're constantly catching up, you can create a plan to move forward with confidence—and even start saving again. Here’s What the Process Looks Like: Review your current debts and cash flow Assess how much equity you’ve built in your home Explore consolidation options that fit your goals Create a personalized plan to streamline your payments and reduce overall costs Ready to Regain Control? If your debts are holding you back and you're ready to use the equity you've worked hard to build, let's talk. There’s no pressure—just a practical conversation about your options and how to move toward a more flexible, debt-free future. Reach out today. I’m here to help you make the most of what you already have.

Breaking Down the Real Costs of Homeownership

By Marci Deane • November 26, 2025
Don’t Forget About Closing Costs When planning to buy a home, most people focus on saving for the down payment. But the truth is, that’s only part of the equation. To actually finalize the purchase, you’ll also need to budget for closing costs —the out-of-pocket expenses that come up before you get the keys. Closing costs can add up quickly, which is why they should be part of your pre-approval conversation right from the start. Lenders will even require proof that you’ve got enough funds set aside. For example, if you’re getting an insured (high-ratio) mortgage, you’ll need at least 1.5% of the purchase price available in addition to your down payment. That means a 10% down payment actually requires 11.5% of the purchase price in cash to make everything work. Let’s break down some of the most common expenses you should prepare for: 1. Home Inspection & Appraisal Inspection : Paid by you, this gives peace of mind that the property is in good shape and doesn’t have hidden problems. Appraisal : Required by the lender to confirm value. Sometimes this is covered by mortgage insurance, sometimes by you. 2. Legal Fees A lawyer or notary is required to handle the title transfer and make sure the mortgage is properly registered. Legal fees are often one of the larger closing costs—unless you’re also responsible for property transfer tax. 3. Taxes Many provinces charge a property or land transfer tax based on the home’s purchase price. These fees can range from hundreds to thousands of dollars, so you’ll want to factor them in early. 4. Insurance Property insurance is mandatory—lenders won’t release funds without proof that the home is insured on closing day. Optional coverage like mortgage life, disability, or critical illness insurance may also be worth considering depending on your financial plan. 5. Moving Costs Whether you’re renting a truck, hiring movers, or bribing friends with pizza and gas money, moving comes with expenses. Cross-country moves especially can be surprisingly pricey. 6. Utilities & Deposits Setting up new services (electricity, water, internet) can involve connection fees or deposits, particularly if you don’t already have a payment history with the utility provider. Plan Ahead, Stress Less This list covers the big-ticket items, but every purchase is unique. That’s why it pays to have an accurate estimate of your personal closing costs before you make an offer. If you’d like help planning ahead—or want a breakdown tailored to your situation—let’s connect. I’d be happy to walk you through the numbers and make sure you’re fully prepared.