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.
Part-timer defends the controversial practice
A seasoned broker – now a part-timer – is defending that choice, challenging mortgage professionals who argue the industry has no place for him and a growing number of others.
Brokers wary of TD consolidation
TD has moved to consolidate BDM services for its prime and alternative lending divisions – something brokers are worried could cost them future business.
Who gets the bill for broker ad campaign?
Merix head Boris Bozic has joined the growing number of mortgage professionals endorsing the idea of a national advertising campaign, specifically focused on hawking broker wares to the largely uninformed consumer. That’s even as others look to mono-lines themselves to foot the bill.