Expect soft landing and rate increase: CMHC
A decline in housing starts in 2014 is expected to cause a soft landing across Canada, according to the Canada Mortgage and Housing Corporation’s second quarter housing outlook, released Thursday.
Gen Y clients pose challenge for brokers
Millennials may actually have more financial advantages than their parents, despite constant reports to the contrary. Except when it comes to purchasing a home.
Commercial mortgages reach $185 billion
Commercial mortgages are an increasingly lucrative business and these latest Canadian statistics may draw a few more players to the game.
Business for self deals are all about relationships
Industry players are frustrated by the lack of options for self-employed clients but the best way to navigate this area, according to one broker, is to assemble a solid stable of a few lenders willing to go the extra mile.
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.