How to Thrive in a Shrinking Mortgage Market: An Industry Veteran's Guide

Mortgage originators all feel how tough it is out there. But the latest stats put the challenge in perspective.

"The entire mortgage originations pie has shrunk by 42%," says veteran broker Jim Tourloukis of Advent Mortgage Services, citing first-quarter Equifax data on new mortgage volumes.

And not only is the pie smaller, but brokers are getting a smaller piece. CMHC data shows broker market penetration fell from 51% in 2022 to 43% in January. "I suspect this will be lower in Q2," Tourloukis estimates. "Also, these numbers are worse for uninsurable business."

But wait, there's more. To milk the desert analogy further, not only are brokers getting a smaller piece of a smaller pie, but "the pie doesn't taste as sweet as it used to," he says.


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