Monolines surprised by rate; clients curious
Reports of Investor Group’s recent 1.99 per cent three year variable rate “shaking” the industry weren't exaggerated, with lenders being caught off guard and scores of clients inquiring about similar products.
Soft gains made in April: CREA
Overall, eight provinces saw year-over-year sales drops in April 2014 but big gains in two major softened the blow for the rest of the country.
The end of high ratio refinancing
The Canadian Mortgage and Housing Corporation (CMHC) appears to be conceding the death of its high-ratio refinancing.
FSCO warns brokers and clients
The Financial Services Commission of Ontario (FSCO) has issued a warning to consumers and industry professionals that “Norton Capital Lending” is not licensed to issue loans in Ontario.
Mortgage product re-ignites mortgage wars
Move over BMO’s 2.99 “No Friller” mortgage: A new product – from an unlikely source – is the one making waves in the mortgage industry Tuesday.
Brokers enjoy busy spring?
Brokers may have noticed a slight uptick in sales last month – a positive sign following months of decreasing housing activity.
Bank joins forces with Canadian retailer
Here’s a new incentive that brokers may not be able to compete with: one big bank will offer $500 cash back when customers take out a mortgage. In Canadian Tire money, that is.
Storefronts still alive and well?
This very publication may have prematurely announced the death of the mortgage broker storefront, with at least one broker pointing to the strong traffic that model continues to win him.
No such thing as 'employee pricing' mortgages?
The Royal Bank of Canada (RBC) made headlines Tuesday with its “employee pricing" mortgage offering but brokers are far from convinced that such a product exists.
CMHC insurance in force to decline in 2014
And the trend continues, with the Canada Mortgage and Housing Corporation (CMHC) cutting the number of insured mortgages it will issue this year.