The Royal Bank of Canada has announced that some of its customers will have to pay a fee when making regular mortgage or loan payments.
Analysis by the Royal Bank of Canada shows that investors looking for long-term returns would be better off with REITs than condos.
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.
The biggest of the big banks has brought back its “employee pricing” on mortgages, but the industry argues brokers will be the biggest beneficiaries.
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.
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.
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.
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.
Fears that the oil industry’s decline would drag Alberta into recession are not shared by the Royal Bank of Canada.
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.