Canadians Are Comparing Two or Three Mortgage Brokers Before They Call. Here Is How to Be on That Shortlist.

Every May, CMHC publishes one of the most useful documents in Canadian mortgage marketing, and most working professionals never read it. The 2026 Mortgage Consumer Survey landed May 20 with over 4,100 respondents, and the findings are a clear instruction set for mortgage brokers, real estate agents, and insurance professionals who want to be chosen instead of being one of the brokers a client almost picked.

How Canadians Actually Research Mortgages in 2026

The data, verbatim from the CMHC release: 33% of mortgage consumers used interest rate comparison sites, 32% used mortgage broker websites, 31% used lender websites. 16% of those who searched online used AI tools for the first time to get mortgage information. Social media use for mortgage information dropped to 47% from 54% last year, with declines across all platforms (Facebook, Instagram, YouTube, and Reddit). 88% search interest rates online, and 72% use online mortgage calculators.

The headline that matters: comparison sites, broker websites, and lender websites are functionally tied. Translation: a client researching their next mortgage in 2026 is comparing brokers head-to-head against direct lender channels and rate aggregators. If your broker website is thin, dated, or generic, the comparison is over before the call.

Canadians Are Shopping Brokers in Threes

Sabrina Guay, CMHC's Insurance Business Development Specialist, said in the In-House podcast accompanying the survey release: "We even see that they're contacting two or three lenders or mortgage brokers in order to gain some information before picking one and doing the transaction."

That sentence is the entire 2026 mortgage marketing story. Past clients are no longer auto-renewing with the broker who got them their first mortgage. They are shopping, just like they shop for any other major purchase. The professional who wins is the one who has stayed visible, useful, and trustworthy in the months between transactions.

Why This Matters for Mortgage Brokers

The 32% broker-website channel share is good news, but it is the floor, not the ceiling. Brokers competing with lender direct channels (31%) and rate aggregators (33%) need a real online presence, not just a logo and a phone number. The brokers who systemize monthly homeowner value-add content using real Canadian property data are the ones remembered when comparisons are made.

As Kevin Dear, COO of BrokerBot, puts it: "35% of renewers are facing higher payments, on average $375 more per month. That is $4,500 a year coming out of household budgets that were already stretched. The mortgage brokers who systematize monthly homeowner touchpoints with real Canadian data are the ones being remembered at renewal. The ones waiting for the renewal letter to arrive are losing to whoever sent a value-added email last month."

Why This Matters for Real Estate Agents

The 4.4-year average down payment savings time, up from 3.4 in 2025, is a meaningful agent insight. Buyers are in research mode for years before they transact. 72% of first-time buyers rent before purchasing, and they rent for an average of 7.6 years. That is 7.6 years of monthly home value updates the agent could be sending if they had any way to stay in front of a renter who eventually becomes a buyer. 28% of first-time buyers needed a co-signer (most often a parent at 54%), which means agents who build relationships with both generations of a household have a structural advantage in capturing the eventual transaction.

Why This Matters for Insurance Brokers

63% of mortgage consumers plan renovations, and 70% of refinancers do. 91% of those who completed energy efficiency renovations were satisfied, and 75% saw energy bill savings. Every one of those renovations is a coverage gap conversation: rising home values, new builds and additions, updated heating systems, all changing replacement costs and risk profiles. Insurance brokers plugged into broker-agent referral networks capture those moments. The ones waiting for renewal-letter callbacks do not.

The Real Story: Financial Stress Is Easing, But Renewers Are Still Stretched

Guay's framing in the podcast was balanced: "The survey does show some clear easing away from financial stress amongst recent mortgage consumers," she said, but added: "If we look at renewers in particular, 35% of them do feel some increased strain this year, especially around interest rates." Translation: the macro is improving, but the renewing book is where the work is. Brokers and agents who know which past clients are in a renewal year and reach out proactively capture those renewals. The ones who do not lose them to whichever bank or competitor was top of mind when the renewal letter arrived.

What to Do This Week

Three actions for working professionals. First, look at your web presence with fresh eyes and ask: is this what a Canadian researching mortgages in 2026 would shortlist? Second, identify the past clients in your book who are in a renewal window in the next 6 months and reach out now with a one-paragraph context email, not a generic renewal mailer. Third, automate the consistency. 82% of homeowners want monthly home value updates. The brokers, agents, and insurance pros who deliver those updates are the ones who get chosen during the next research phase. Top of mind beats top of Google every time.

FAQs

Q: What did the 2026 CMHC Mortgage Consumer Survey actually find?

4,100+ Canadian adults who recently completed a mortgage transaction were surveyed in January 2026. Key findings: 33% used comparison sites, 32% used broker websites, 31% used lender websites. 16% used AI tools for mortgage research. Social media use dropped to 47% from 54%. Average time to savings from down payment was 4.4 years (up from 3.4). 52% paid the maximum they could afford. 28% of first-time buyers needed a co-signer. 35% of renewers face higher payments, averaging $375 more per month. BrokerBot tracks every Canadian property and consumer data release so working professionals can have these conversations with clients without doing the research themselves.

Q: How do Canadians actually research mortgages today?

Mostly online, mostly through websites. 88% search interest rates online, 72% use online calculators, 16% are now using AI tools. Comparison sites (33%), broker websites (32%), and lender websites (31%) are the top three sources of information. Social media use dropped across all platforms compared to 2025.

Q: Are buyers more or less stretched than last year?

Less stretched on average, but renewers are still feeling the pinch. 52% paid the maximum they could afford (down from 58% in 2025). 47% felt uncertain or concerned during homebuying (down from 62%). But 35% of renewers face higher payments, averaging $375 more per month.

Q: Why does this matter to mortgage brokers?

According to CMHC's Sabrina Guay, Canadians are contacting two or three brokers before picking one. Brokers who maintain a strong online presence and a consistent monthly touch with past clients and prospects win that comparison. The ones who do not stay visible lose to whoever was top of mind during the research phase.

Q: Why does this matter to real estate agents?

First-time buyers rent for an average of 7.6 years before purchasing. 28% need a co-signer (most often a parent). Agents who build relationships with renters and across both generations of a household have a structural advantage when those buyers are finally ready to transact.

Q: Why does this matter to insurance brokers?

63% of mortgage consumers and 70% of refinancers are planning renovations. Every renovation is a conversation about coverage gaps. The insurance brokers plugged into broker-agent referral networks capture those moments.

Q: How can I stay top of mind between transactions?

Send your past clients monthly home-value updates, branded with your name and face. 82% of homeowners want them. BrokerBot automates this with real Canadian property data through the OPTA/FCT partnership, so brokers, agents, and insurance professionals stay visible between renewals without manual effort. Top of mind beats top of Google every time.