Flaherty pulling wrong lever, says former TD economist
Former TD Chief Economist and Department of Finance analyst is perplexed by Jim Flaherty’s obsession over mortgage rates, and sees a rate of 2.95 as being in step with bond yields.
How low can you go – 2.84
Jim Flaherty needs to “stay out” of the affairs of banking, say mortgage brokers, as one channel lender throws down the gauntlet with the introduction of a 2.84 per cent rate.
Manulife, the mouse that almost roared
Manulife’s decision to reverse a 20 bps mortgage cut – only after a phone call from the ministry of finance – is drawing criticism from brokers, but also praise.
CAAMP media crusade continues
CAAMP’s CEO Jim Murphy has taken his crusade for regulatory change to the airwaves and television, beating the drum for an easing of restrictions on first-time homebuyers.
Focus on refis, not first-timers
Instead of focusing on first-time buyers, CAAMP should push Ottawa on refinancing restrictions, says one industry vet, reacting to news the association has now tailored its lobby efforts.
Big lenders will follow BMO bandwagon
BMO’s posted 5-year-fixed rate of 2.99 is nothing new, says True North’s CEO Dan Eisner; still other major lenders will be quick to follow suit despite warnings from federal finance minister Jim Flaherty of a potential rate war.
Big banks are abusing their power
One leading broker is echoing Jim Flaherty’s concerns about bank irresponsibility, following BMO’s announced 2.99 rate on a 5-year-fixed mortgage Saturday, cautioning an abuse of the public trust.
'Pleased' Flaherty meet displeased brokers
Finance Minister Jim Flaherty says he’s happy increases in home prices have started to slow, but is relatively mute on a much bigger concern for brokers – the falling number of sales.
Market slumps in December
There’s yet more indication brokers will see a quiet winter, with national home sales slipping 17 per cent in December from a very active year ago.
Brokers glad market on ‘sustainable path’
Call it a slowdown, soft-landing or a correction, some mortgage professionals are just glad 2012’s rough ride is nearly over and as one major bank puts it, the industry is headed on a “sustainable path.”