Latest news

  • Housing starts slow in May

    Not surprisingly, housing starts cooled in May after a surge in April and are expected to remain lower throughout the rest of the year, Canada Mortgage and Housing Corp. said Friday.

  • Veteran: OSFI decision may benefit brokers

    For clients, it’s the one menacing clause in OSFI’s rejection of re-qualification at renewal. But for brokers, says one industry veteran, it’s may be an opportunity to grow their business.

  • Renovation slowdown to hit brokers

    There's yet more indication that brokers should brace for further slowdown in refis, with a new CMHC report identifying a weakening renovation sector across much of the country.

  • Canadians optimistic about becoming debt-free

    With household debt still a hot topic amongst economists, a new poll finds that most Canadians believe they can be debt-free by 2017 – which includes their mortgages.

  • OSFI nixes requalifying guideline

    From CAAMP’s lips to OSFI’s ear. The federal regulator issued a letter Wednesday clarifying its position on re-qualifying borrowers at renewal -- effectively maintaining the status quo and confirming CAAMP's understanding.

  • Assoc.: Good news from OSFI on the way

    It may be too early to break out the bubbly, but brokers – and indeed their nervous clients – appear poised to escape the most onerous of OSFI’s proposed changes, said the head of the industry’s largest association, pointing to recent discussions in Ottawa.

  • S&P puts Genworth under looking glass

    S&P may not be as bullish on the Canadian housing market as brokers, adjusting the rating for Genworth Canada to “stable” from “positive,” citing concerns about consumer debt loads, among others.

  • Broker channel consolidation underway

    Broker channel consolidation is again in play, with B2B Trust announcing it has signed an agreement to acquire Verico lending partner AGF Trust for a cash amount equivalent to its $242-million book.

  • Nat. Bank aims to grow road rep 'contribution'

    Brokers may represent too much of a good thing for National Bank, its president suggesting the lender will ease up on their use as it focuses on growing originations through, ahem, road reps and branches.

  • Brokers: BoC decision may embolden OSFI

    The Bank of Canada left the overnight rate unchanged at 1 per cent Tuesday, in the process suggesting a hike may not come anytime soon – something that could strengthen OSFI’s hand.