With the way mortgages are financed, particularly at the moment, we're seeing.... It used to be that in many instances—I've done mortgages at a bank—we would see some rate competition from non-bank lenders. At the moment, there is a decreased ability of non-bank lenders to compete. Ultimately, that results in less choice for Canadians and oftentimes higher interest rates. That's what we're seeing on the ground and what I'm hearing from brokers across the country as well.
