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Brokers now know what the near future holds for rates -- following the Bank of Canada’s decision to hold its overnight rate at ¾ per cent – but what can they expect in the longer-term? Several big bank economists weigh in.
If the answer is “yes,” shouldn’t their compensation model be the same. A number of industry players think so.
Brokers may be disappointed that the BoC refrained from moving its key rate lower, but the decision may speak volumes about the market’s health or lack thereof.
The economic assessment published with today’s overnight rate decision is providing brokers insight into the market for the rest of 2015.
Want to know who is the most-controversial commenter on MortgageBrokerNews.ca? Brace yourselves.
The country’s hottest housing market is trending to levels not seen since the last recession, according to one major bank.
With increased competition among banks and credit unions, one professional believes the move to a fee-only model could be the key to keeping brokers on top.
Some brokers are pointing to real concerns for those borrowers opting for Meridian’s 1.49 per cent offer – their objections having little to do with personal concerns about the lender’s sales strategy.
Brokers hoping for another gift from the Bank of Canada at Wednesday’s rate announcement may be out of luck, if experts pointing to new economic data are correct.
With a leading lender’s refusal to offer its broker partners access to a record-low rate promotion, some players are suggesting a boycott.