MLN NewsStream

The liquidity tap in the world's biggest economy will close a bit tighter today.

The U.S. Federal Reserve is queuing up today's—and possibly one more—hike before taking a potentially permanent break.

The gap between insured and uninsured mortgage originations is now wider than the Grand Canyon. And it just keeps expanding, as the BoC's latest data show (chart below).

The government seems blissfully content to let the insured market wither.

The number of mortgages on CMHC's books, for example, is now below 1.5 million for the first time in over a decade. That's down one million in just six years. (There are roughly seven million mortgages in Canada total.)

Meanwhile, despite 11 years of rising prices that shut out first-time buyers in major cities, the government refuses to increase the default insurance value limit above $1 million. That's despite its 2021 pledge to do so.

That, and the uninsurability of refinances and rental properties, almost guarantee the insured-uninsured gap keeps widening.

But who pays?

The repercussions of the government's insured-mortgage pullback are many:

Neil Patel is an SEO Jedi and content wizard. The Wall Street Journal calls him one of the world's top marketing influencers.

Patel consults for companies like Google, Facebook and Intuit and has (at @neilpatel) over 1.1 million YouTube subscribers.

He recently spoke with us about a little invention called ChatGPT — and how it should and should not be used for mortgage content marketing.

The questions he answered have been on our minds for months, including:

• How should mortgage professionals harness AI content at this early stage?
• How much would creating 100+ pages of ChatGPT-generated mortgage content benefit a typical broker or lender?
• Will ChatGPT replace mortgage advisors?
• Will ChatGPT replace search engines?
• And more...

If cultivating online mortgage traffic is your thing, you'll likely find the video and tips that follow 12 minutes well spent.