Justin Da Rosa is a journalist with Canadian Mortgage Professional.
Another banking veteran, now a broker, is criticizing the increasingly close relationship between Realtors and some of the big six banks, suggesting it comes at a disadvantage to clients.
After postponing the federal budget in mid-January, Finance Minister Joe Oliver has scheduled the budget for Tuesday, April 21.
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.