Latest news

  • 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.

  • 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.