Banks have A-business cornered?
Another big bank has joined the ranks of lenders offering a sub-three per cent five-year fixed rate; signalling the growing importance of alternative lending to the mortgage broker industry, according to one player.
Certain buyers don't understand credit
A recent study points to the importance of advising clients on the impact credit scores have on attaining a mortgage – especially for millennial home buyers.
CAAMP crunches the rate discounting numbers
CAAMP’s comprehensive quarterly report, entitled “Looking for a ‘New Normal’ in the Residential Mortgage Market”, points to just how prevalent rate discounting is across Canada.
Brokers must 'outsmart' banks
The key is to “outsmart” the big banks, according to one broker, following one institution’s ad campaign plugging its lowest five-year fixed rate in recent memory.
Broker doesn't like first-time buyer trend
First-time home buyers are putting off purchasing a principle residence in favour of first buying investment properties in cheaper markets, says one broker; but one of his peers isn’t convinced this is the best move.
Rate war reignited; brokers not intimidated
ScotiaBank is the latest lender to offer a sub-three per cent mortgage rate but one broker doesn’t feel threatened by the latest offering; even though he does realize it will bring in a fair amount of business for the big bank.
Broker raises issue with RBC's points program
It’s RBC’s points program – and not the recently announced $1,000 cash incentive for realtors who refer clients for a mortgage – that one broker has an issue with.
Broker not threatened by big bank incentive
Brokers may view RBC’s newly-minted mortgage incentive program – that offers realtors a bonus for referring first-time home buyers -- as a sign that the broker channel has the bank worried about market share.
Brokers in major markets in tough?
Mortgage brokers in Toronto and Vancouver may have to start getting more creative with lead generation, with recent stats suggesting affordability in these two markets is eroding.
Slower underwriting due to mortgage rule tweaks?
Brokers have experienced a lender backlog and while the reasons vary, many agree it is due to underwriters having to adapt to recent rule changes.