Second big bank forecasts further rate cut
It’s been a whirlwind week following the Bank of Canada’s announced rate change and the industry could be in for even more disruption come March, according to a growing chorus of financial institutions predicting further cuts.
Brokers question banks’ refusal to match overnight rate
One big bank has offered an explanation for why its prime rate doesn’t match the Bank of Canada’s overnight rate, but brokers aren’t exactly sold.
Is there room for private lenders to drop rates?
Despite rate slashes from conventional lenders, many private mortgage providers haven’t budged on rate and brokers may not buy their reasoning for holding out.
A tougher sell for private lenders?
In the wake of falling rates, private lenders may have a tougher time selling clients on higher rates; but not if expectations are properly managed.
Analyst explains why banks haven’t matched the BoC’s rate
The big banks’ decision to lower their prime rates – but not fully match the mark set by the Bank of Canada – was about balancing the economy, according to one bank analyst.
Brokers diversify by providing consumer credit
It may seem ironic to some, but many brokers believe offering consumer credit card products is one of the most effective alternative revenue streams a player can add to his business.
Missed opportunity for brokers?
The big banks operating in the broker channel aren’t doing themselves any favours by refusing to drop their prime rates, despite some of their competitors already doing so.
Are the monolines competing?
A number of the big banks have announced special fixed rate promotions and cuts to their prime lending rate, but what are monolines doing to ensure brokers have a competitive advantage?
Brokers aren’t sold on big bank prediction
One big bank has made a bold rate prediction for the near future but brokers aren’t biting.
No moves planned by finance minister
Finance Minister Joe Oliver has said he will not interfere with the housing market – or force banks to lower their interest rates, despite the Bank of Canada’s announced rate cut.