Pineapple Financial (NYSE American: PAPL), a digital mortgage company focused on providing Canadian mortgage brokers with the systems, tools, and technologies they need to provide home buyers and mortgage seekers with a more digital customer experience, has been featured in a RazorPitch article. With Canada’s unique mortgage market requiring holders to refinance after every five years, Pineapple Financial offers investors the perfect way to capitalize on this opportunity. According to the article, the company’s technology is designed and geared towards Canadian mortgage brokers, a very fast-growing channel of origination.
Over 75% of half of all mortgages that Canadians are first-time home buyers; also, more than 70% of buyers under the age of 45 prefer to utilize a mortgage broker. The article expects these growing demographics to prefer using digital channels such as Pineapple’s platform, which is reaffirmed when other areas of the world are considered. “For instance, in Australia, Europe, and the U.S., over 80% of mortgage originations are done through the mortgage broker channel. This means that Pineapple has plenty of room to grow as the market organically grows in Canada. To put the opportunity in context, consider this: There is about $2.2 trillion of outstanding mortgage debt in Canada,” the article reads.
Additionally, Canada’s mortgage terms, which span 1 to 5 years, provide Pineapple with the opportunity to reservice customers, with these continual servicing opportunities providing the company with tremendous potential to continue growing revenue and the business. The article noted that 73% of all current Canadian mortgages will be coming up for maturity within the next three years or by the end of 2027, translating to about $1.6 trillion of potential origination. In addition to that, Canada has the fastest-growing population in the world, which, coupled with about 4 million Canadians entering the home buying stage of their lives, means that Pineapple Financial has a tremendous growth opportunity.
To view the full article, visit https://ibn.fm/3J6Fb
About Pineapple Financial Inc.
Pineapple Financial is an award-winning fintech and leading Canadian mortgage brokerage network. It focuses on the long-term success of agents and brokers and the overall experience of homeowners. With hundreds of brokers within the network, Pineapple Financial creates cutting-edge tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. The company is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians. For more information about the company, visit www.gopineapple.com.
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