Tiny lenders chop rates to grab mortgage customers
Meanwhile the smaller lenders are hungry for more business so they're cutting profits to compete on lower rates.
Mortgage Brokers are also taking cuts on commission to compete in the race to the lowest rate:
The rate war is even more intense among mortgage brokers, many of whom are shifting away from the traditional full service model that saw brokers spending hours working with clients to select the best mortgage and earning hefty commissions.
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