Brokers differ on whether to advise fixed or variable rates for clients
Brokers looking for definitive advice on steering clients toward fixed, variable or combination mortgages are out of luck, with industry opinion divided ahead of expected rate hikes.
BoC rate to reach two per cent by year end: RBC
As part of its economic outlook for 2011, RBC projects that the Bank of Canada overnight rate will rise from one per cent to two per cent by year-end.
Argentum launches private label mortgage with trailer fee
Argentum Mortgage and Finance Corporation launched its own branded mortgage, which features trailer fees.
Vancouver home prices to continue rise over next three years
Despite record prices, home sales in British Columbia will rise seven per cent this year compared to the last, according to a forecast report by a lender in the province.
Equity Financial Trust now accepting deals from brokers
Canada has a new entry in the mortgage lending field as Equity Financial Trust received final regulatory approval to become a deposit-taking institution and will immediately begin accepting applications for alternative residential mortgages.
Report calls for increased mortgage qualification standards
A report by a six-person task force recommends that banks take more responsibility for improving Canadians’ ability to manage and repay debt, while also suggesting the federal government introduce more stringent standards for mortgage qualification.
True North opens office in Halifax
True North Mortgage saw its number of offices grow to four with the opening of a location in Halifax this week.
Banks need to improve service to keep customers: Ernst & Young
Although 75 per cent of Canadians surveyed say their trust in banks has stayed the same or has increased in the past 12 months, almost 64 per cent say they plan to switch banks or have already done so because of service quality issues, says an Ernst & Young report released Monday.
The rise and fall of mortgage rates
Research released by the Bank of Canada Thursday, not surprisingly suggests that Canada’s largest banks are slow to pass on cuts in the Bank of Canada’s policy interest rate.
Banks could raise HELOC interest rates
With a surprise drop in credit card debt over the holiday shopping season, lines of credit increased. Merix Financial speculates whether this could push banks to raise HELOC interest rates.