Flaherty backing away
Finance Minister Jim Flaherty appears to be backing away from further interference with the mortgage industry, sharing his satisfaction with the housing market and addressing a call for higher interest rates.
Brokers question the power of perks
Several lenders have established contests and perk programs in an attempt to bump up broker business, but those incentives aren’t working on everyone.
Brokers frustrated by one big bank's recent changes
Mortgage professionals are calling for an independent lender to refocus on the rental property market as frustrations mount following rule changes at several lenders – most recently at a big bank.
Female broker-only golf tournament sells out
Meadowbrook Golf and country club will play host to the sixth-annual Ontario Women’s Mortgage Industry Golf tournament on September 16 and the event is already sold out.
Expert panelists eye future rate climbs
It’s by no means over and the fat lady hasn’t sung. Mortgage rates will indeed continue to climb headed into October, argues an expert panel assembled by RateSupermarket.ca.
Suit still yet to win class action status
A suit launched by Merchant Law Group LLP being brought against Manulife Financial, Benesure, and Davis + Henderson has yet to win certification to go ahead as a class action suit, while the defendants are prepared to defend what they think are baseless allegations.
Poll: Industry reacts to broker-owned bank
A poll asking brokers whether they’re more inclined to send a deal to a new “broker-owned bank” than an existing lender partner had a quarter of respondents answering “yes” even before receiving any details.
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.