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Mortgage Broker News | 20 Mar 2013, 12:00 AM Agree 0
Manulife’s decision to reverse a 20 bps mortgage cut – only after a phone call from the ministry of finance – is drawing criticism from brokers, but also praise.
  • S Vuceta | 20 Mar 2013, 08:39 AM Agree 0
    by the Minister of Finance's logic, variable rate mortgages should be extremely dangerous(only because they are below 3%), but he does not call for that rate to be moved up. Nor does he challenge the car/furniture/electronic companies that provide 0% financing to stop their practice. If the good Minister wants to protect the Canadian economy he should worry how he spends the government's money and stimulates the economy, and let the mortgage broker find the best rate/options for his client.
  • Omer Quenneville | 20 Mar 2013, 08:45 AM Agree 0
    When I quote a rate I ask the client not to switch for a match, but I let them switch if the bank will beat. I explain only a match is unfair and my clients tend to agree.
  • Jake | 21 Mar 2013, 09:50 AM Agree 0
    It's obvious who controls Flaherty! The major Banks.
    Looking at interest rate trends for a ways back in history you will notice that rates started to drob when the internet made it possible to transfer mnoney more easily! Before in Canada we had 13 million peoples worth of cash to bargain over that was controled by the big banks, now we have 6 or 7 Billion peoples worth of cash at our finger tips! There is way more cash out there than borrowers!
    You think rates are going to raise? I think not!
  • Rosemary Madden | 21 Mar 2013, 01:06 PM Agree 0
    I tend to think that the Finance Minister should tunr his attention the the high interest unsecured debt that Canadians are being bombarded with, it is far too easy for Canadians to obtain this type of credit not only from the credit card companie's but also from the major banks. From my years of experience this is the road to that leads to financial problems with many borrowers.
  • Omer Quenneville | 21 Mar 2013, 07:58 PM Agree 0
    Where is the Competition Bureau when you need them. Isn't this price fixing?
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