There are approximately 18,000 to 20,000 people who hold a mortgage agent and/or broker licenses in Canada, according to the Canadian Association of Accredited Mortgage Professionals.
Ontario has the most with 10,000, while B.C. and Alberta have a combined total of 6,000. In Quebec, 1,000 people are licensed.
Canadianmortgagetrends.com says the going assumption of how many are actually active is 10,000 to 12,000.
Although Canada's broker count has increased over the past three years, it's been relatively stable in the last 12 months, said Jim Murphy, CAAMP CEO. There is speculation the industry will shrink because of increasing competition, falling home prices, rising rates, falling commissions and bigger bank sales forces. In the past few months, two brokerage CEOs have also said they believe broker numbers have peaked for the near future.