How does a mortgage broker get paid?
Joel Olson • June 7, 2017
Our services are free! Well, sort-of…to you anyway!
Picture this. You go to your bank, and you ask to speak to a Loans Manager. You have an appointment and you see a few different people, but you don’t pay for any of them. Yet, somehow they are all getting paid.
So, instead of all that money going to a bank employee, it goes to us. And still, the cost to you is nothing.
There are certain times when a broker fee is charged, but these are rare and will be disclosed in the commitment
that you sign with us.
On October 28, 2026, the Bank of Canada raised its key interest rate by 0.25%, bringing it to 2.5%. If you have a mortgage, are shopping for a home, or have a renewal coming up, this decision matters. Here is a plain-language look at what changed, why it happened, and what it could mean for you.
Get expert insights on mortgage financing in Canada. Contact Joel Olson for help with complex files & rural financing.
