Market points to slowing preapproval conversions
Despite a cooling real estate market, the average home price in Canada reached a record high in July -- not exactly good news for brokers itching to convert preapprovals.
Turnaround times worry brokers
CMP’s upcoming Brokers on Lenders survey should highlight the growing concern brokers have about turnaround times, as they fight to retain a dwindling number of deals.
TD matches RBC’s five-year fixed
It’s a rate war in reverse, with TD following RBC’s decision to set a five-year fixed well above the broker’s best.
Correction: DLC claims 26 agents on Top 75
CMP correction: Dominion Lending Centres, in fact, claimed the largest number of brokers on this year’s Top 75
RBC gives brokers a two-week lead
Brokers won't have more than two week to take advantage of RBC’s move to bump up its discounted five-year-fixed by 20 bps, caution some industry players.
Fence-sitters in no rush to buy
Brokers are facing a growing number of pre-approvals as clients wait on a price correction, which, according to CMHC’s latest report, is unlikely to materialize.
Posted rates set to maximize IRD
There’s a very good reason why some banks continue to advertise unusually high posted rates, argue some brokers, even as other lenders move to slash theirs to the point of precipitating a rate war.
Expert outages stymie submissions
D+H continues to investigate the root causes of intermittent outages to its Expert platform that delayed submissions and frustrated brokers across the country this week.
Brokerages extend their reach beyond mortgages
It's the ultimate in proactive thinking, with some mortgage brokers moving to diversify their product offerings outside of mortgages and ahead of a market slowdown.
Brokers:New rules should drop approval times
The tougher mortgage rules may shut a significant number of borrowers out of the market, but mono-lines should turn that into an opportunity to speed up approval times, argue brokers.