Several factors contribute to this surge. Firstly, mortgage brokers offer access to a wide range of loan products from various lenders, providing borrowers with more options and potentially better terms. Secondly, brokers can simplify the loan application process, offering guidance and support that can be particularly valuable for first-time homebuyers or those with complex financial situations.

For borrowers, engaging a mortgage broker can lead to more competitive interest rates and loan terms, as brokers have the expertise to negotiate with lenders on behalf of their clients. Additionally, brokers are required to act in the best interests of their clients, ensuring that the recommended loan products align with the borrowers' financial goals and circumstances.

As the mortgage broking industry continues to grow, borrowers are encouraged to research and select reputable brokers who can provide transparent and unbiased advice tailored to their needs.