For decades, securing a mortgage in the GTA has required a face-to-face meeting with an advisor. However, the landscape is shifting. CIBC recently launched a new digital switch tool, signaling a potential move toward the long-promised era of ‘do-it-yourself’ mortgages. While the bank is taking cautious steps, the tool allows borrowers to receive an instant, exclusive digital rate offer without a branch visit. Despite this progress, industry expert Robert McLister notes that Canadian banks remain hesitant to fully automate, citing consumer demand for human expertise and concerns over AI reliability. With 48 per cent of borrowers still seeking advice during renewals, the human touch remains vital. However, as digital tools evolve, they could offer faster, more competitive options for GTA homeowners. To see the full analysis on how these digital shifts might impact your next mortgage renewal, read the full article at the Financial Post.
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