Canada Mortgage/loan Brokers Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR (2024 - 2029) | 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Canada Mortgage/loan Brokers Market Analysis
The Canada Mortgage/loan Brokers Market is expected to register a CAGR of greater than 5% during the forecast period(2024-2029).
The value of mortgage lending in Canada has observed a continuous increase over the years rising to a value of more than 1.27 trillion during the quarter third of last year. Among the existing mortgage lenders in Canada, by type Banks exist with a share of more than 80% with the remaining share occupied by credit unions, mortgage finance companies, and mortgage investment entities. With a continuous rise in the value of outstanding loans by residential as well as commercial segments business of mortgage loan brokers is expected to observe growth over the coming period.
Post Covid, the Average mortgage interest rates in all the segments of different years of loans had observed a continuous increase leading to a rise in market profit for the mortgage loan brokers with an average rate existing at more than 5%. The major share of mortgage loans among the population in Canada is opted by the urban population among which Vancouver, Toronto, Victoria, and Oshawa are among the leading cities in Canada, in terms of the average value of new mortgage loans.
With rising technical and digital innovation, the Canadian mortgage industry is modernized by the launch of digital mortgage platforms for the brokers making the process more efficient and saving the time of borrowers as well. Rising fintech business and digital banking in the region are expected to drive the Canadian mortgage loan broker market towards a new direction.
Canada Mortgage/loan Brokers Market Trends
Booming Alternative or Private Lending Market
The Bank of Canada (the Bank) in its current Financial System Review (2021) reported growing household debts and greater shares of new mortgages with higher loan-to-income and loan-to-value ratios. According to Statistics Canada, non-bank lenders increased their non-insured residential mortgage lending by 49% during the fourth quarters of 2019 and 2020. These are signs that the market for alternative or private lending is still expanding. In these situations, mortgage brokerages are crucial. They help clients find acceptable mortgage alternatives with their interests in mind. Brokerages must now thoroughly explain the financing alternatives, risks, and implications of taking on extra debt to their clients, especially the more vulnerable ones given the current state of uncertainty surrounding mortgage interest rates.
Increased Interest in Investments with Greater Yields
Investors who want a higher return are turning more and more to mortgages as an alternative investment. The Bank noticed that the total amount of financial assets held by mortgage investment firms (MICs) has grown quickly since 2008. It is expected to grow by an average of 10% from 2018 to 2021. Because different real estate investments have different outlooks and construction financing can be hard, more investors may be putting their money into mortgage investments that are riskier. It hasn't been given the attention it deserves, but it's important for investors to know what's going on during a mortgage investment and when the mortgage is extended.
Canada Mortgage/loan Brokers Industry Overview
The main foreign competitors in the Canadian mortgage/loan brokers business are covered in the research. Loan brokers face intense competition since they depend on their relationships with the best real estate agents and lenders in the communities they cover. The following list includes some of the key market participants: True North Mortgage, KeyRate Corp., CanWise Financial, SafeBridge Financial Group, and Clear Trust Mortgages.
Canada Mortgage/loan Brokers Market Leaders
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True North Mortgage
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KeyRate Corp.
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CanWise Financial
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SafeBridge Financial Group
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Clear Trust Mortgages
*Disclaimer: Major Players sorted in no particular order
Canada Mortgage/loan Brokers Market News
- In October 2023, True North Mortgage expands its Rate Relief product lineup, which initially launched with the lowest 6-month fixed rate around. The new 1-year Rate Relief mortgage is for those buying a home or who want to switch lenders at renewal to a better rate.
- November 2022: Home Capital Group Inc. announced that it had signed a legally binding contract (the "Arrangement Agreement") to be bought out by a wholly-owned subsidiary of Smith Financial Corporation ("SFC"), a company run by Stephen Smith.
- August 2022: Rocket Mortgage Canada, a digital mortgage broker based in Windsor, Ontario, made it official that it would stop doing business as Edison Financial and instead do business across the country under the name Rocket Mortgage. Rocket Mortgage said that it will change its brand and start lending directly in Canada later this year. Rocket Mortgage's agents talk with clients from all walks of life on a regular basis. Because of this, the company is in a unique position to use the information learned from these conversations to make loan products that work well and meet customer needs.
Canada Mortgage/loan Brokers Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitutes
- 4.4.5 Intensity of Competitive Rivalry
- 4.5 Insights of Technology Innovations in the Market
- 4.6 Insights on Government Regulations and Industry Policies
- 4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Enterprise
- 5.1.1 Large
- 5.1.2 Small
- 5.1.3 Mid-sized
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5.2 By Applications
- 5.2.1 Home Loans
- 5.2.2 Commercial and Industrial Loans
- 5.2.3 Vehicle Loans
- 5.2.4 Loans to Governments
- 5.2.5 Other Applications
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5.3 By End- User
- 5.3.1 Businesses
- 5.3.2 Individuals
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 True North Mortgage
- 6.1.2 KeyRate Corp.
- 6.1.3 CanWise Financial
- 6.1.4 SafeBridge Financial Group
- 6.1.5 Clear Trust Mortgages
- 6.1.6 Premiere Mortgage Centre
- 6.1.7 Bespoke Mortgage Group
- 6.1.8 TMG The Mortgage Group
- 6.1.9 Yorkshire BS
- 6.1.10 Smart Debt*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
** Subject To AvailablityCanada Mortgage/loan Brokers Industry Segmentation
A mortgage broker acts as a middleman for people or businesses and manages the mortgage loan application process. In essence, they form relationships between mortgage lenders and borrowers without investing any of their own money.
The Canada Mortgage/Loan Brokers Market Is Segmented By Enterprise Size (Large, Small, And Medium-Sized), By Application (Home Loans, Commercial And Industrial Loans, Vehicle Loans, Loans To Governments, And Others), And By End-User (Businesses And Individuals). The Market Sizes And Forecasts Are Provided In Terms Of Value (USD) For All The Above Segments.
| By Enterprise | Large |
| Small | |
| Mid-sized | |
| By Applications | Home Loans |
| Commercial and Industrial Loans | |
| Vehicle Loans | |
| Loans to Governments | |
| Other Applications | |
| By End- User | Businesses |
| Individuals |
Canada Mortgage/loan Brokers Market Research Faqs
What is the current Canada Mortgage/loan Brokers Market size?
The Canada Mortgage/loan Brokers Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Canada Mortgage/loan Brokers Market?
True North Mortgage, KeyRate Corp., CanWise Financial, SafeBridge Financial Group and Clear Trust Mortgages are the major companies operating in the Canada Mortgage/loan Brokers Market.
What years does this Canada Mortgage/loan Brokers Market cover?
The report covers the Canada Mortgage/loan Brokers Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Canada Mortgage/loan Brokers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Canada Mortgage/loan Brokers Industry Report
Statistics for the 2024 Canada Mortgage/loan Brokers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Canada Mortgage/loan Brokers analysis includes a market forecast outlook to for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
