Jim Flaherty news

  • 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.”

  • Canada keeps triple-A rating with S&P

    Standard & Poor’s has reaffirmed Canada’s triple-A rating despite mounting levels of household debt and the housing market flux.