TD tips its hand on future rates
The slowdown brokers are now grappling with may prove less dramatic than feared, with the chief economist for TD Bank now predicting those new, tighter mortgage rules will slow home sales by as little as five per cent over the rest of 2012.
Cashbacks here to stay...
The clock may be ticking on bank-offered cashback, but the largest credit union in Ontario is now committing to offering 100 per cent financing until its regulator says otherwise.
Good news for REITS, bad news for brokers
The lower interest-rate environment and economic growth in Western Canada should prop up an increasingly iffy real estate market, but not necessarily for brokers, according to a recent report by credit ratings firm DBRS.
Broker clarifies Toronto Star comment
A mortgage professional advising homebuyers to choose brokers doing 100 or more deals a year is now clarifying that comment published in the country`s largest newspaper.
BoC hints at rate hike
The Bank of Canada announced Wednesday it will maintain its overnight rate at 1 per cent, also hinting at the future withdrawal of that stimulus.
Poll: brokers think pooling bad for industry
Brokers believe that the practice of volume pooling is bad for the channel, according to a recent online poll run by MortgageBrokerNews.ca.
Brokers better BMO's best
Nice try, BMO, but no cigar. Brokers say they aren’t the slightest least bit worried about the bank’s new 3.09 per cent five-year fixed because the channel can match and even better that no-frills offer.
ING's broker days numbered, says vet
Brokers clinging to the notion that it will be business as usual with a Scotia-owned ING are facing certain disappointment because the popular discount banking brand is bound to disappear in Canada after 18 month, according to a seasoned mortgage professional.
Market points to slowing preapproval conversions
Despite a cooling real estate market, the average home price in Canada reached a record high in July -- not exactly good news for brokers itching to convert preapprovals.
Brokers: Scotia’s ING purchase benefits channel
One of ING’s biggest broker partners is arguing against fears Scotia will compromise the smaller player’s independence.