Taking the positive from bank news
Many brokers scoff at bank “relationship pricing” but at least one professional believes they are creating a more informed public: Which will benefit the broker channel.
Brokers call ‘smoke and mirrors’ on RBC employee pricing
The biggest of the big banks has brought back its “employee pricing” on mortgages, but the industry argues brokers will be the biggest beneficiaries.
Bank vet criticizes financial overhaul plan
It’s not just brokers who scoffed at one financial organization’s recommendations for an overhaul to the Canadian financial system, after one former bank executive provided his own criticism.
RBC chief confident in Canada’s housing market
David McKay, chief executive of the Royal Bank of Canada, believes consumer demand is roughly in line with supply, particularly after housing starts dipped 16 per cent last month.
Brokers in one province to rely largely on refis?
A major bank is forecasting a drastic drop in home sales in one province, but anecdotal broker evidence may prove that some of the lost business can be made up through refinances.
RBC forecasts further interest rate cut
Three out of the five major banks have now predicted further rate cuts to come from the Bank of Canada, though this one doesn’t expect these record rates to last long.
Alberta to avoid recession says RBC
Fears that the oil industry’s decline would drag Alberta into recession are not shared by the Royal Bank of Canada.
Realtors believe bank rate cut won’t impact market
A major Canadian bank has lowered its five-year fixed mortgage rate – and others are expected to follow suit – but brokers' main source of referrals, Realtors, don't believe the decision will have a drastic impact on housing market performance.
RBC cuts mortgage rate, price war coming?
It was always going to happen but while last week the big lenders were reluctant to pass on the Bank of Canada’s interest rate cut to borrowers, this week there’s talk of a price war.
No slowdown in household debt
While Canadians may be wary of the outlook for the economy, as shown by recent polls, it’s done little to dampen the appetite for debt.