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.