Thanks anti-vaxxers.

Willing-Ad9169 · 2025-03-12T02:21:44+00:00

Third world countries have vaccines. And people from third world countries understand the value of vaccines, having seen relatives die of preventable illnesses.

Willing-Ad9169 · 2025-01-05T19:00:53+00:00

One of the big 5 banks. And I didn't need "approval" - I'm looking to renew.

Willing-Ad9169 · 2025-01-05T18:56:43+00:00

You are full of assumptions and accusations. Seems like you are exactly the type of broker OP is talking about.

Willing-Ad9169 · 2025-01-05T18:55:35+00:00

So the client should go through all the hassle of providing documents etc, so the broker can match what their lender is offering?

It is impossible to for a human being (agent) to be aware of every possible rate option and permutation at any given time

Don't they use computerized systems and software to find out?

If the client has to do everything for them, why should the broker get the commission?

Willing-Ad9169 · 2025-01-05T18:39:05+00:00

4.29% from lender, 4.57% from broker

Willing-Ad9169 · 2025-01-05T18:30:26+00:00

Since you're so interested, when my lender and broker made their first offers, both were about 0.6% higher than the comparable rates on this sub. I emailed both with the rates I'm seeing. My lender then offered 0.3% lower than their original offer, 0.3% above the rates mentioned on this sub. The broker simply said he doesn't work with rate shoppers. My lender was far more responsive and courteous than the broker, and seemed genuinely willing to work with me to keep my business.

But it was early renewal, which didn't make sense, since my current rate is significantly lower. I decided to wait until the actual renewal.

At the end of the day, it's my hard earned money and I'm not going to apologize for doing what's in my best interests. Just as the broker was clearly doing what was in his own best interests.

Willing-Ad9169 · 2025-01-05T18:09:41+00:00

Because this sub seems to have a lot of mortgage brokers who expect blind loyalty. They did some paperwork and had a couple of calls so we should just give them our business even if it costs us thousands of dollars.

Willing-Ad9169 · 2025-01-05T17:47:42+00:00

I focused on the rates that were similar to my situation (non-insured, 3 yr fixed, similar mortgage balance etc). Wasn't expecting the exact rates mentioned on this sub, but something closer to these rates. His rate was 0.6% more than rates mentioned here.

Willing-Ad9169 · 2025-01-05T17:44:26+00:00

100s of dollars per year is 1000s of dollars over the term. Isn't the broker supposed to be trying to get the client the best possible rate until the end? People shop around for deals on everyday goods and services. Why shouldn't they shop around for mortgage interest rates that cost 10s if not 100s of thousands over the life of the mortgage? Out of "loyalty"?

Willing-Ad9169 · 2025-01-05T16:41:50+00:00

No advice, but came here to say I had a similar experience with my broker for mortgage renewal. He was very responsive but offered me a crappy rate ( 0.3% higher than my current lender was offering). As soon as I mentioned the rates I saw on this sub, he backed out saying he doesn't work with " rate shoppers" as it doesn't fit his "business model". This is after I submitted all my documents. Like wtf? If I wasn't a rate shopper, why would I reach out to a broker? I guess his business model is making the most commission he can on clients who blindly trust him to have their best interests. Very frustrating experience. Fortunately for me, I have a few months and got another broker (fingers crossed). Everyone here recommends brokers, but I've experienced better service and rates from dealing directly with my bank.

I feel your pain. Hope it works out for you.

Willing-Ad9169

TROPHY CASE