Tighter lending rules having a positive effect
Brokers may not want to hear it but tighter mortgage lending rules have attributed to a decline in defaults; while CMHC profits climbed according to a press release by the organization published at the end of August.
Condos in Toronto: Are brokers at a disadvantage?
Lenders continue to make it more difficult to obtain mortgages for condominiums in Canada’s biggest market and, unfortunately, brokers may be more disadvantaged than their mortgage specialists.
Banks call for interest rate hikes
Banks and brokers rarely agree, but on this they may: Rick Waugh of the Bank of Nova Scotia suggests there is no housing bubble. However, he also advocates for higher interest rates.
Speculations confirmed as sales jump in August
The numbers are in and they’re confirming speculation that rising rates pushed fence-sitters into the market, with GTA sales alone skyrocketed 21 per cent in August.
Clients ditch brokers for brokers
Are you doing enough to keep your clients from leaving you for a bank? How about for another broker?
Gord Dahlen takes on a new challenge
Industry leader Gord Dahlen has moved from his executive position at Dominion Lending Centres, with another channel player now welcoming him into its expanding fold.
Bond yields spark another round of rate hikes
The five-year bond yield hit a four-year high Thursday, rising 4.18 per cent to 2.15 and signalling a coming interest rate hike, report brokers.
Variable rates still a dice roll, despite rate hold?
Some brokers still aren’t completely sold on the idea of variable rates; despite the rising in fixed and the Bank of Canada announcement Wednesday suggesting ARMs may remain at historic lows until 2015.
OSFI to consult public before making changes
OSFI has held off on further tweaks to underwriting rules, but amid speculation that it may soon spring into action, one representative has assured MortgageBrokerNews.ca the public – including brokers – will be allowed their say.
Overnight rate remains unchanged
In a statement issued Wednesday, the Bank of Canada announced it will keep the overnight interest rate at one per cent -- extending the three year trend of low prime interest rates -- and expect it to remain steady until 2015.