The mortgage broker channel has been steadily gaining market share, reaching a 15-year high of 24.3% in Q4 2023, according to United Wholesale Mortgage (UWM), citing data from Inside Mortgage Finance.
This marks the highest broker market share since 2009, reflecting growing consumer confidence and demand for independent mortgage brokers.
UWM noted a 2021 HMDA data analysis that showed consumers save an average of $9,407 throughout the life of their loan when using a mortgage broker compared to a bank or retail lender.