May CMHC, Teranet numbers encouraging
Condo starts were up surprisingly for the month of May, reaching 200,000 from April’s 176,000 – helping to maintain a level number of new housing starts nationwide, according to CMHC’s latest seasonally adjusted annual rates.
Broker ensnarled by REDX error
A Toronto broker wants the same high standards currently applied to mortgage brokers placed on REDX reporting – having herself fallen victim to an apparent case of mistaken identity.
Stick to the issues CAAMP, broker urges
Another article in the Toronto Star has showered praise on mortgage brokers, but one broker feels his industry is being done a disservice with what he calls “PR pieces” by CAAMP, when instead it should be addressing real concerns in the channel such as REDX reports.
REDX addresses AMP questions
The company behind REDX is now answering a question CAAMP has been slow to, asserting the association does not directly file incident reports on brokers who drop the AMP designation.
Fraudsters head for commercial ground
A tough residential real estate market means fraudsters are on the move to commercial, writes Vernon Clement Jones, but should the buck stop with brokers?
Brokers win new market-tracking tool
Knowing neighbourhood demographics in detail – from homeowner movement to pricing on the street-by-street level – is a critical advantage for brokers and one a new index aims to provide them.
Another blow to commissions?
Numbers from Teranet-National Bank show a fifth consecutive month of decline for home prices nationwide -- arguably another blow to broker commissions.
Teranet, NAS tools to boost B 20 compliance
Brokers can look forward to faster risk assessment and valuation of loan applications they submit to lenders with the upcoming release of enhanced underwriting tools from online property search firm Teranet and appraisal management company National Appraisal Services that support OSFI’s new B20 guidelines.
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.
Home prices continue to rise in most cities
Canadian home prices rose in April from March for the second consecutive month, with prices up in nine of 11 metropolitan markets, led by western centres Edmonton, Calgary and Winnipeg.