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.