Bank of Canada rate cut encouraging rate shoppers, say brokers
Misguided information is causing an increase in the number of rate shoppers who aren’t quite sure what to make of the recent Bank of Canada rate cut, according to industry players.
Brokers call for more communication from certain lenders
They make great referral partners; still, brokers feel this one type of lender is shutting them out of the origination process.
Standardized penalties could be a negative for brokers… and clients
Be careful what you wish for – brokers hankering for standardized mortgage penalties could be undercutting one clear advantage they have over the banks.
A slight correction may be imminent, but is there cause for concern?
The most recent Bank of Canada rate cut highlights the current risks to the Canadian economy, according to one organization, arguing the housing market is 20 per cent overvalued.
Brokers call for standardized penalties
Renewed frustration around lender penalties have forced one broker to make a FSCO complaint, but is it really time for Canada-wide regulation?
Lender: Brokers, be prepared
The head of one leading lender believes brokers should prepare for even tighter lending guidelines.
Broker sends warning to Ottawa
The Canadian government is reportedly considering tougher mortgage rules, but brokers warn that they would negatively impact the industry’s most crucial client type.
Brokers frustrated by big bank rates
Frustrations mount that the banks aren’t passing the entire savings onto their clients in the wake of another axed benchmark rate.
Monolines to cash in?
Stingy – that’s how brokers may characterize the 10 bps drop by banks yesterday, and leaving the door open to monolines.
What to expect from banks when rates rise
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.