Why more Canadians are choosing brokers over banks in 2026
Megan McDonald, Senior Vice President of Single Family Sales at MCAP, shares how insights from interviews with over 100 of Canada’s top brokers shaped the Broker Success Formula, a framework built on foundation, execution, engagement, and optimization.https://t.co/MSJxsr1I2J
— Canadian Mortgage Professional Magazine (@CMPmagazine) July 22, 2026
Advice gains ground as rate-access lead narrows
Access to the best rate remained the top reason broker users gave for seeking one out, cited by 54%, though that figure slipped five percentage points from 2024.
Getting multiple quotes followed at 33%, while help understanding options and the mortgage process was cited by 31%, and lender recommendations by 26%.
The advisory role was most pronounced among first-time buyers: 40% used a broker to understand their options and the process, up 14 percentage points from 2024.
Another 28% cited lender recommendations, up 10 points, and 28% cited better customer service, up 12 points.
“First-time buyers are often making the largest financial decision of their lives while comparing unfamiliar products, lenders and qualification requirements,” said Maxime Stencer, Chair of Mortgage Professionals Canada.
