BoC eases broker concerns
Brokers may be more scared by new consumer debt numbers than the Bank of Canada, with Mark Carney suggesting the slowing real estate market cancels any immediate need for a rate hike.
A broker-only 2.98
The road reps won't like it. Heck, many brokers may not like it, either! But Mortgage Alliance has now handed its members a 20/20 five-year mortgage at 2.98 per cent; specifically tied to its very successful RightMortgage.
Lender cutting out road reps?
It may be a sign of where the big banks are moving, with BMO temporarily resurrecting its infamous 2.99 per cent offer but only for online applications – a move threatening to cut out road reps.
BFS deals swamp brokers
The silver lining to tighter mortgage rules appears to be a spike in Alt A and BFS clients rejected by the banks.
CREA confirms broker market observations
New, tighter mortgage rules appeared to push home sales off the proverbial cliff September, the overall number falling 15 per cent from a year ago, according to a new report from CREA.
Brokers: Banks abusing Emili
If Emili is the baby, rogue banks are the bathwater, say brokers pointing to ethical lapses by transitory mortgage specialists using the valuation system.
CMHC offers valiant defense of Emili
CMHC is now defending its Emili against an onslaught of criticism the system’s database routinely overvalues properties by as much as 5 per cent to 15 per cent.
Brokers: Keep Emili
Any move away from automated valuation – and toward appraisers – could hurt clients, say brokers, anticipating fallout from a media report suggesting CMHC’s system inflates home prices.
Market growth beats naysayers
The unsinkable Canadian real estate market appears to be just that, with new numbers pointing to continuing price growth in the country’s biggest market, despite fears of a correction.
Unsecured credit card raises concerns
It’s one way to diversify revenue in a slowing market, but the idea brokers will soon be helping clients into unsecured credit cards isn’t sitting well with some industry observers, suggesting it runs counter to their primary mandate.