Overnight rate on hold until economic data improves
The governor of the Bank of Canada, Stephen Poloz, suggested Tuesday that the overnight interest rate may soon be raised and he welcomes a strengthening American economy as one of the catalysts for such a maneuver.
Broker: Expect tighter underwriting in 2014
One leading industry player foresees tightened mortgage lending regulations in 2014, which may affect the broker industry more than its banker rivals.
Unlicensed broker charged with 18 offenses
Glenn Whitter is alleged by FSCO to have used online dating to borrow and lend on real estate properties without a license and faces nine counts of dealing in mortgages without a broker license, totalling 18 charges under Ontario's Mortgage Brokerages, Lenders and Administrators Act, 2006.
Advisor proposes reining in CMHC
The president of a macroeconomic advisory agency suggested changes CMHC needs to make to harness its mortgage market influence in 2014, including reinstating the regional mortgage cap; but will mortgage brokers agree with him?
Broker: Buydowns have greater effect on broker networks
Rate buy downs affect broker networks more than they do individual brokers, suggests one leading industry player, and 2014 will foster even more of these types of deals as brokers try to compete in an increasingly competitive environment.
Brokers beware of young buyers driving Audis
Finance Minister Jim Flaherty said on CTV’s Question Period Sunday that he is monitoring the state of the housing market and is willing to intervene in the mortgage default insurance industry again if the need is felt.
Broker forecast: Banks have advantage in 2014
One leading broker is staring into his crystal ball and forecasting another year of competitive advantage for the bank branch in one or two key areas.
New thinking on BoC rate hike
Brokers are anticipating a particularly busy 2014 as clients look to move before the Bank of Canada does, although there’s new thinking on the timing of its long-awaited hike in the overnight rate.
Broker shares wish list for industry in 2014
With a new year upon us, brokers each have a wish list of things they’d like to see happen in the mortgage industry, although one leading player is hoping for as little change as possible. At least in one area.
Two brokers teach public about financial literacy
A father and daughter mortgage team is giving back to the community by teaching financial literacy to entire families.