CAAMP crunches the rate discounting numbers
CAAMP’s comprehensive quarterly report, entitled “Looking for a ‘New Normal’ in the Residential Mortgage Market”, points to just how prevalent rate discounting is across Canada.
Broker doesn't like first-time buyer trend
First-time home buyers are putting off purchasing a principle residence in favour of first buying investment properties in cheaper markets, says one broker; but one of his peers isn’t convinced this is the best move.
Rate war reignited; brokers not intimidated
ScotiaBank is the latest lender to offer a sub-three per cent mortgage rate but one broker doesn’t feel threatened by the latest offering; even though he does realize it will bring in a fair amount of business for the big bank.
Broker not threatened by big bank incentive
Brokers may view RBC’s newly-minted mortgage incentive program – that offers realtors a bonus for referring first-time home buyers -- as a sign that the broker channel has the bank worried about market share.
Slower underwriting due to mortgage rule tweaks?
Brokers have experienced a lender backlog and while the reasons vary, many agree it is due to underwriters having to adapt to recent rule changes.
Two brokers: Two opinions on advising a certain client
Opinions diverge on how best to advise clients with little or no credit.
Mortgage product re-ignites mortgage wars
Move over BMO’s 2.99 “No Friller” mortgage: A new product – from an unlikely source – is the one making waves in the mortgage industry Tuesday.
Repeat performances mark Canadian Mortgage Awards
The success of the annual CMP Canadian Mortgage Awards roared across Toronto’s Liberty Grand Friday with over 600 attendees recognizing the industry’s top players – among them an unprecedented number of repeat winners.
Mortgage Summit a big success
CMP’s Top 75 were unveiled – for the first time ever – live at the Mortgage Summit in Toronto on Thursday and the event is being heralded, by Vernon Jones, editor of CMP, as a great way to mark broker successes with the appropriate fanfare.
Collateral charge mortgages have advantages: Broker
One broker reiterates the positives of the much-maligned – and increasingly popular -- collateral mortgage product.