Investors grow their reliance on mortgage brokers
A new spring report suggests more and more buyers – among them investors – are turning to mortgage brokers as credit challenges creep in and banks grow reluctant to lend.
In a report sponsored by the Canadian Association of Mortgage Professionals (CAAMP) we learn that from 2011 to April of 2012, 22% of those who renewed or refinanced a mortgage chose to do so with the assistance of a Mortgage Broker. This shows an increase over 19% during the same period in the previous year. This article from Canadian Real Estate Wealth shares the highlights of the recently released report.
For those seeking new mortgages, 31% were obtained through mortgage brokers, compared with 27% from the year before. In a time of growing uncertainty surrounding lending regulations and mortgage rates, the necessity for qualified mortgage advice is even more apparent. Ottawa Mortgage Brokers have access to alternative lending sources and mortgage solutions for each unique financial situation.
To read the full article from Canadian Real Estate Wealth, click here.