Canadian mortgage brokers have spoken, and their message is clear: speed and service standards are rising dramatically in 2026. The Canadian Mortgage Professional’s 20th annual Brokers on Lenders report reveals a significant shift in how the mortgage industry operates, with major implications for GTA homebuyers and sellers navigating an increasingly competitive market.
This year’s medallists—Manulife Bank of Canada, MCAP, Merix, RMG Mortgages, VWR Capital Corp., and Calvert Home Mortgage Investment Corporation—set themselves apart not just on pricing, but on turnaround times, technology, and broker support. For the first time, lenders were split into Alternative and Prime categories, reflecting the market’s growing complexity.
The report highlights a critical trend: broker frustration with slow turnaround times topped the list of concerns, with one leading Toronto broker declaring that anything beyond 24 hours for a live purchase file “should be the exception, not the norm.” This pressure reflects the reality facing GTA transactions, where speed directly impacts deal closure rates.
Essentially, the report signals that GTA buyers and sellers should expect faster mortgage processes—but only from lenders willing to innovate. The winners balanced competitive rates with responsive service, setting new benchmarks for the industry.
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