A recent study points to the importance of advising clients on the impact credit scores have on attaining a mortgage – especially for millennial home buyers.
Brokers may think collateral charges will eventually blow over, but that storm is here to stay, cautions industry veteran Dustan Woodhouse. What do you need to know?
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.
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.
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.
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.
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.
Opinions diverge on how best to advise clients with little or no credit.
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.
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.