Affordability gap continues to grow
The Royal Bank of Canada released its Housing Trends and Affordability report on Wednesday indicating slight deterioration of affordability across all Canadian regions; though not enough to create turmoil in the market.
Broker network strikes key 'alternative' deal
Mortgage Alliance announced Monday a partnership with Personal Lending Solutions (PLS) aimed at making alternative lending more accessible to brokers.
Saskatchewan brokers brace for potash fallout
Saskatchewan brokers are holding their breath on fears the province could see economic growth halved if potash prices sink in the wake of one producer’s move.
Broker hit with compliance order; FSCO warns RBC customers
The Superintendent of Financial Services for FSCO has issued interim compliance and suspension orders against Ralph Iacono and Mortgage Lenders Ltd., and in a separate notice is also warning clients of Royal Bank not to purchase any products from Sentel Insurance.
RBC under fire for missing coverage
A Harvey, N.B., man is asking Royal Bank – the same lender that refinanced his mortgage without a lawyer’s signoff – why his home burned to the ground without fire insurance.
RBC hike a sign; rate war is over: broker
RBC’s announced rate hike Friday is a signal the big bank is laying down its weapon of choice at least for the time being, say brokers.
RBC pledges “no more outsourcing”
RBC may just have zapped some of the selling power of brokers, with the big bank now promising to never outsource Canadian jobs to foreign workers solely to save money.
Restrictions, not affordability, hurting Vancouver, says broker
According to a recent RBC Economics Research study, Vancouver remains the least affordable city in Canada to buy a home – something that isn’t stopping first-timers prepared to lower their expectations, says one broker.
Home ownership more affordable but channel sees little action
Despite improving home ownership affordability nationwide, the new lending realities have put less Canadians families under a new roof, according to brokers.
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.