Brokers are still struggling with self-employed clients for a number of different reasons.
Many of Canada’s foreign investors hail from China, but political uncertainty in other parts of the world could bring a wave of investment from two countries in particular.
In a first for the industry, one major broker network has added an in-house economist to its team.
Sometimes the only option to close the deal is the one most brokers push back against at almost all costs.
As if collateral charge mortgages needed another knock against them, one broker is having trouble refinancing those clients who find themselves in an uninsured collateral charge product.
Brokers have a tough enough time competing with the banks, and one industry professional believes tied selling -- going by a different name -- continues to skew the playing field.
A major bank is forecasting a drastic drop in home sales in one province, but anecdotal broker evidence may prove that some of the lost business can be made up through refinances.
Brokers have reported an increase in inquiries from clients since the Bank of Canada rate change, which has provided an opportunity for industry players to extoll the benefits of working with a mortgage broker – and explain the fine print on mortgage documents that many bankers may overlook.
As Canada’s five major banks announced prime-rate reduction for mortgages, Ontario’s largest credit union stepped up to deliver a cut of its own.
One big bank has offered an explanation for why its prime rate doesn’t match the Bank of Canada’s overnight rate, but brokers aren’t exactly sold.