News

  • Falling consumer debt challenges mortgage rules by Vernon Clement Jones | 19 Jul 2012

    A new Equifax report suggests Canadians began making real strides in cutting household debt before the new mortgage rules came into effect, raising concerns the government was too quick off the mark. read more

  • Brokerages extend their reach beyond mortgages by Nestor Arellano | 18 Jul 2012

    It's the ultimate in proactive thinking, with some mortgage brokers moving to diversify their product offerings outside of mortgages and ahead of a market slowdown. read more

  • BoC sends mixed messages to brokers by Vernon Clement Jones | 18 Jul 2012

    The Bank of Canada surprised absolutely no one in maintaining its overnight rate at 1% Tuesday, although it now suggests there may be little choice but to increase it in order to curb rising household debt. read more

  • Brokers scramble to cash in FirstLine incentives by Jamie Farshchi | 18 Jul 2012

    With just 12 days until Firstline bows out of the industry, brokers are still waiting on an announcement from CIBC on the fate of their POINTS and basisPOINTS accounts, with many now scrambling to cash them in. read more

  • Brokers laud MCAP’s hands-off approach to RMG by Nestor Arellano | 17 Jul 2012

    Brokers are applauding what appears to be MCAP’s decision to put its money where its mouth is – the lender adopting a largely hands-off approach to RMG’s product lineup and features that deviate from its own. read more

  • Slowdown raises questions about mortgage rules by Vernon Clement Jones | 17 Jul 2012

    There's real fear among economists that new mortgage rules may add insult to injury, with numbers pointing to a price and sales decline for the Canadian market in June. read more

  • Cashbacks here to stay? by Nestor Arellano | 17 Jul 2012

    Broker desperately clinging to cashback mortgage may not have to give them up after all with, provincial regulated monolines suggesting they'll continue to offer the product even as OSFI forces the banks it regulates to ditch it. read more

  • '2.94%' -- them's fighting words by Vernon Clement Jones | 16 Jul 2012

    Look out, brokers. One mono-line has now introduced 2.94 per cent on a five-year fixed with possibly just enough standard terms and conditions to set off another rate war. read more

  • Brokers:New rules should drop approval times by Nestor Arellano | 16 Jul 2012

    The tougher mortgage rules may shut a significant number of borrowers out of the market, but mono-lines should turn that into an opportunity to speed up approval times, argue brokers. read more

  • Credit unions hounded for HELOCs by Nestor Arellano | 13 Jul 2012

    Brokers are on the hunt and credit unions are already welcoming a wave interest as new federal guidelines limit HELOCs at the banks and make their own higher LTVs more enticing. read more