Loonie hits a 5 year low
The Canadian dollar has been pushed to a 5 year low today as oil prices were once again cut by Saudi Arabia.
CREA launches new videos to help homebuyers with finances
The Canadian Real Estate Association has teamed up with the Consumer Finance Agency of Canada to produce a series of videos explaining the home buying process including explaining the key terms and concepts of mortgages
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.
Canada’s least affordable city is…
A new quarterly report from Desjardins says that Vancouver is Canada’s least affordable market currently, due to house prices relative to income.
Calgary market stays hot
House prices went up again in Calgary last month; rising 10 per cent compared to October last year.
What’s the biggest home-buying priority for Vancouverites?
It’s perhaps not too surprising that house prices rank highly when purchasers in Vancouver are choosing where to live along with other factors such as proximity to work and family.
Poloz: Interest rate rises to combat hot property market is a bad idea
The governor of the Bank of Canada said today that it would not be a good idea to raise interest rates in a bid to tackle imbalances in certain sectors of the economy such as property.
Broker discusses underwriter exceptions
When it comes to difficult files some brokers avoid asking for exceptions from underwriters; but, according to one MortgageBrokerNews.ca reader, it can often be the last recourse in trying to get a deal funded.