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The Canadian government is reportedly considering tougher mortgage rules, but brokers warn that they would negatively impact the industry’s most crucial client type.
Frustrations mount that the banks aren’t passing the entire savings onto their clients in the wake of another axed benchmark rate.
Stingy – that’s how brokers may characterize the 10 bps drop by banks yesterday, and leaving the door open to monolines.
It may be the in the future, but brokers are looking at the inevitable rate hike and anticipating what the banks will do with their own rates at that time.
The Bank of Canada has lowered its overnight rate to 1/2 per cent.
With CAAMP set to re-evaluate its future – and the role the next leader will take – industry players believe there are certain things the association should focus on, including providing more support specifically to brokers.
Economists are almost split down the middle as to whether the Bank of Canada will cut its rate later today, and one industry association is warning against it.
Exponential year-over-year volume growth has prompted one national broker network to add a new president to its team.
Can brokers expect a second rate cut this week?
The industry player may have just upped his professional profile, with a leading position at a not-for-profit organization often considered a role model for CAAMP.