Condo construction cools
The trend measure for housing starts dropped month-over-month from September to October of this year, due in part to a decrease in condo starts
BoC Governor addresses mortgage insurance exposure
Brokers have already suggested it and now the deputy governor of the Bank of Canada, Lawrence Schembri, has suggested the creation of a “private-label mortgage securitization market.”
OSFI releases official B-21 guidelines
Brokers will likely breathe a sigh of relief as OSFI has unveiled its finalized B-21 guidelines, following a draft that was largely believed to be less intrusive than its preceding B-20 version.
Hidden fees rampant in U.K. mortgage industry
Canadian brokers and mortgage borrowers are always leery of hidden mortgage fees, but one trend occurring across the pond will shock and surprise industry vets.
Scotiabank cuts 1,500 positions
Brokers are already bracing for a surge in the number of mortgage specialists entering the channel, with one big bank’s announcement that it will shed 1,500 positions in a drive to achieve “greater efficiencies” – even at a cost of $148 million.
Leading lender expands operation
Canadian First Financial Group announced Monday it is expanding its retail banking operations by adding seven locations in Western Canada.
3-D modeled open-houses from the comfort of your office
A new piece of technology will help arm brokers with the ability to virtually walk clients through their dream home – adding another layer to the broker/client relationship.
The good times roll on for Toronto’s condo market… but for how long?
The hot market often blamed for a potential housing bubble has recorded record sales numbers once again, indicating that if said bubble exists it may only be getting bigger.
Financial professional admits he was wrong about mortgage choice
With the overnight rate expected to see its first hike since 2010 in the near future, brokers may take a lesson from one expert who admits he made a mistake when picking his own mortgage.
A tale of two brokering philosophies
Conversation on MortgageBrokerNews.ca evolved from a discussion about underwriting exceptions to one about monolines vs. big banks and two brokers discussed their individual reasoning for supporting one or the other.