He’s at it again. The economist responsible for the most dire real estate prediction to date now believes the Canadian market is more overleveraged than America’s just prior to the economic crisis.
The government made a pledge in the federal budget that brokers can’t afford to gloss over, cautions one industry vet, worried about the possibility of higher mortgage rates.
The verdict is still out for some, but many brokers are applauding the launch of a unified broker association being compared to the nation’s Realtor organization.
With oil prices slightly rebounding, can Alberta-based brokers expect business to follow suit?
Brokers, better get scrappy. Regulatory changes in another sector are threatening to draw more players into mortgage brokering despite the soft market.
If the answer is “yes,” shouldn’t their compensation model be the same. A number of industry players think so.
One broker believes clients now putting less than 10 per cent down will be more overleveraged than those who purchased with zero down.
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.
Fewer lenders are allowing brokers to choose their own appraisers, and players are once again airing frustration about the appraisal process; a process one appraiser refers to as “a total racket."
A broker may have had his record-low rate snubbed by RateHub, but a competing rate site plans on listing it as long as the product is on offer.