Lender policy change costs broker
One broker has a beef with a lender after a number of his mortgages were not honoured following a policy change.
What does the future hold for CMHC?
The Canada Mortgage and Housing Corporation (CMHC) announced further changes to its insurance offerings Friday, providing even more fodder for brokers to speculate about the future of the crown corporation.
Poll results: Brokers convert business on heels of increased competition
Opinion among brokers was divided about Investors Group’s recent rate promotion and just how good a deal it was for customers. We wanted cold, hard numbers, though, so we asked our readers how many were able to convert client inquiries into funded deals. Read on for the results.
CU offers retroactive 2.99 per cent rate
Brokers now have a new arrow in the quiver, with one credit union announcing Thursday its 2.99 per cent five-year fixed rate that can also be applied, retroactively, to deals funded in the past 30 days.
Major market continues to boom but can it last forever?
One of Canada’s hottest housing markets reported another year-over-year sales and price increase in May.
Banks have A-business cornered?
Another big bank has joined the ranks of lenders offering a sub-three per cent five-year fixed rate; signalling the growing importance of alternative lending to the mortgage broker industry, according to one player.
Certain buyers don't understand credit
A recent study points to the importance of advising clients on the impact credit scores have on attaining a mortgage – especially for millennial home buyers.
CAAMP crunches the rate discounting numbers
CAAMP’s comprehensive quarterly report, entitled “Looking for a ‘New Normal’ in the Residential Mortgage Market”, points to just how prevalent rate discounting is across Canada.
Brokers must 'outsmart' banks
The key is to “outsmart” the big banks, according to one broker, following one institution’s ad campaign plugging its lowest five-year fixed rate in recent memory.
Broker doesn't like first-time buyer trend
First-time home buyers are putting off purchasing a principle residence in favour of first buying investment properties in cheaper markets, says one broker; but one of his peers isn’t convinced this is the best move.