Listed MICs reported weighted average portfolio rates of roughly 8.7 to 9.1 percent in mid 2026, plus lender fees of 2 to 4 percent on first mortgages. Second mortgages and smaller MICs price higher.
Those figures are averages across the portfolios of listed MICs, so an individual file can price above or below them. Second mortgages and smaller MICs generally charge more, and the lender fee is added on top of the rate.
That cost is why a MIC is rarely the first choice. If the client can qualify with a B lender, the B lender is cheaper and offers a longer term. A MIC fits when the file needs speed, size or an equity based approval that a B lender will not give.
Write the exit down before the client signs. A MIC loan works best as a bridge to cheaper financing, not a destination.
Brokers here submit directly to more than 100 lenders, including major banks, monolines, credit unions, B lenders, private and alternative lenders, with top tier status on every file and no middle layer taking a cut between you and the approval. Weekly lender training covers policy changes and declined files, and the Deal Desk places the files that need a lender you have not worked with before.
What makes a MIC, what MIC money costs, how MICs compare with B and private lenders, and the risks.
Mortgage investment corporations, explainedNo statute defines an A lender. Where the real lines fall between A, B and private lending in Canada, and what each tier means for a broker placing files.
When a mortgage becomes an investment product sold to investors, a second regulator is involved. Where mortgage brokering ends and securities law starts.
Look up any mortgage agent or broker licence in Ontario, BC or Alberta. Direct links to each free regulator search and what to check before you sign.
Bring your questions to a discovery call and a broker owner will answer them directly.