We’ve arrived! Happy New Year—2025 is here, and it’s shaping up to be a phenomenal year for mortgage brokers and their clients alike. While you won’t find specific economic forecasts here (that’s better left to chief economists like Ben Tal from CIBC or Sherry Cooper from DLCG), there are some key industry trends we believe every broker should keep on their radar.
1. The Year of Renewals & Refinances
2025 is set to be a record-breaking year for renewals and refinances. Why? Because five years ago—back in 2020—millions of Canadians locked in mortgages (many at historically low rates). Fast forward to 2025, and we’re looking at over 1.2 million mortgages coming up for renewal. That’s huge!
- Don’t wait until spring when the wave really hits.
- Start reaching out now to secure 120-day rate holds and begin renewal or refinance conversations with your clients.
- This year could be your biggest opportunity to reconnect, provide value, and help clients navigate their new mortgage options.
2. Optimism is Key
We’ve all been through a rollercoaster over the last few years—market ups, downs, and everything in between. In 2025, your clients will be bombarded by more headlines, more speculation, and more uncertainty. The last thing they need is their mortgage broker adding to the negativity.
- Be the bright spot in their day.
- Guide them with confidence, solutions, and a can-do attitude.
- Always remember: chaos in the market often creates opportunity, and you can be the one who helps them find it.
3. The Need for Speed
If you want to thrive this year, speed will be your secret weapon. Lenders, banks, and credit unions will be pulling out all the stops to keep their existing clients. As a broker, you have to be faster and more responsive than ever:
- Identify where you were slow in 2024—where did you drop the ball or take too long to respond?
- Streamline processes, adopt new technology, or even grow your team so you’re always one step ahead.
- Make it impossible for your clients to go anywhere else because you’ve already met their needs—immediately.
Lastly, myself, and the whole team at Mortgage Excellence is here to help make 2025 your best year yet. From sharing content like this to offering tools, systems, and hands-on support, we’re committed to helping you capitalize on what might be the biggest renewal year in mortgage history.
Don’t let this opportunity slip through the cracks. Plan, optimize, and stay focused on what truly matters—serving your clients better than anyone else. This is your year. Make it happen!
Happy New Year!