MPC survey finds broker use jumped six points in a year, with first-time buyers leading the shift
The share of Canadians who obtained their mortgage through a broker climbed to 38% in 2026, up six percentage points from the previous year, with recent first-time buyers driving the sharpest gains, according to new consumer research from Mortgage Professionals Canada (MPC).
The findings draw on a survey of close to 2,000 Canadians conducted by Bond Brand Loyalty between February 5 and 25, and point to a profession whose value proposition is broadening beyond pricing.
Borrowers are increasingly citing advice, lender access, and process guidance alongside competitive rates as reasons they seek out a broker.
Read more: Mortgage brokers in demand as buyers struggle with renewals, rates, and risk
Among recent first-time buyers specifically, broker use reached 48%, a 10-point increase from 2024.
Broker use climbed to 42% among other recent buyers, and reached 44% in Quebec, where it rose 14 percentage points year over year.
"Canadians are facing more complex mortgage decisions than they were a few years ago, from rate selection to lender choice to long-term affordability," said Lauren van den Berg, President and CEO of Mortgage Professionals Canada.
"This research shows that mortgage brokers are increasingly being recognized not only for access to competitive rates, but for the advice and guidance they provide throughout the process."
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.
"The data points to a clear shift: borrowers still want a competitive rate, but they also value the advice brokers provide in finding the right mortgage for their circumstances and managing their debt over the longer term."
Client satisfaction reached a multi-year high. Eighty-three per cent of broker clients said they would recommend their broker to a friend or family member — a five-year high — while 72% said they would use a broker again for their next mortgage.
| Segment | 2024 | 2026 | Change |
|---|---|---|---|
| All buyers | 32% | 38% | ▲ 6pp |
| First-time buyers | 38% | 48% | ▲ 10pp |
| Other recent buyers | — | 42% | — |
| Quebec | 30% | 44% | ▲ 14pp |
| Reason | % of broker users |
|---|---|
| Access to best rate | 54% |
| Multiple quotes | 33% |
| Help understanding options/process | 31% |
| Lender recommendations | 26% |
Source: Mortgage Professionals Canada / Bond Brand Loyalty consumer survey, February 2026 (n≈2,000). 2024 baselines for broker share derived from reported percentage-point changes. No prior-year figure reported for other recent buyers.
Variable rates tick up; down-payment tool awareness lags
Fixed-rate mortgages remain dominant, held by 70% of mortgage holders. The share carrying variable-rate mortgages reached 26%, however, up three percentage points and the first increase in three years.
For prospective buyers not yet in the market, awareness of federal down-payment savings programmes remains uneven.
Fifty-five per cent knew of Tax-Free Savings Accounts (TFSAs) as a savings tool, 53% were aware of First Home Savings Accounts (FHSAs), and 43% knew of the Home Buyers' Plan (HBP).
One in five non-owners said they were unaware of any of the three. Among non-owners who expect to buy within two years, usage rose to 67% for TFSAs, 57% for the HBP, and 48% for FHSAs, demonstrating that proximity to purchase drives engagement with tools that brokers can actively introduce earlier in the conversation.
Read more: New mortgage brokers, here’s how to survive and thrive in today’s market
On the other hand, awareness of reverse mortgages — products that allow homeowners aged 55 and older to access home equity without required monthly payments — remains limited.
Among Canadians aged 55 and over, 43% said they were at least somewhat familiar with reverse mortgages, while just 1% said they already have one and 15% said they would be at least somewhat likely to consider one.
"Whether Canadians are buying their first home, choosing between fixed and variable rates, saving for a down payment or assessing later-life borrowing options, the mortgage decision has become more layered," van den Berg said.
"That makes access to informed, professional advice increasingly important."
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