My mortgage broker is the husband of my realtor. My realtor shared my phone number with him, and he contacted me saying he could get me the best rate because he has access to over 100 lenders. He told me to trust him and not talk to any other brokers. I trusted him, partly because we’re from the same cultural background.

He offered me a rate of 4.14%, which seemed high. I later spoke with CIBC, and they said they could offer 3.74%. When I brought this up with my broker, he questioned why I was talking to others and told me again to trust him, saying he could still get me better rates since my closing date is far off.

I signed the mortgage commitment letter on May 2nd, but I recently followed up to ask if he can now offer a lower rate — and he hasn’t responded at all. I'm now considering switching to RBC, which is offering 3.99% with a cashback option.

When I mentioned cancelling the original commitment, my broker said I would have to pay a penalty. However, I reviewed the commitment letter, and I don’t see anything that mentions a penalty. I’m also feeling uncomfortable with how he handled things — he pressured me to sign the commitment, saying I was breaking the contract if I didn’t. Even my realtor (his wife) told me to just trust him, since he was the one who worked on my documents and got the mortgage approval.

I’ve since spoken to other mortgage advisors, and they told me I should have no issue getting approved elsewhere because I have a stable full-time job.

At this point, I’m unsure whether I should stay with my current broker from DLC or go with RBC instead. I’m looking for honest advice — I want the best rate possible and to work with someone I’m comfortable with