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Fewer lenders are allowing brokers to choose their own appraisers, and players are once again airing frustration about the appraisal process; a process one appraiser refers to as “a total racket."
A bank road rep tell-all has brokers’ backs up after he suggested the channel’s deals are “dirtier” than those funded on the bank side. But at least one lender has come to the aid of his channel player partners.
The biggest of the big banks has brought back its “employee pricing” on mortgages, but the industry argues brokers will be the biggest beneficiaries.
Canada’s real gross domestic product (GDP) fell 0.1 per cent in January due in part to sagging construction and diminishing output from real estate professionals.
At least two big banks are finally taking a page out of the broker playbook and focusing on product features instead of rate.
A broker may have had his record-low rate snubbed by RateHub, but a competing rate site plans on listing it as long as the product is on offer.
The broker who had his rate removed from RateHub.ca alleges he has also been barred from using the site in the future.
Brokers are poking holes in one analyst’s prediction that Canada’s housing market is in dire straits, accusing him of ignorance when it comes to Canada’s oil industry – and the economy’s reliance on it.
The Governor of the Bank of Canada Stephen Poloz has gone into damage control mode, defending the bold actions carried out by the BoC in January when it shocked the market with a rate cut.
In a comprehensive study of condo markets across Canada, Genworth and the Conference Board of Canada are predicting a soft landing in most cities, with some expected to see more significant price drops.