Bank of Canada rate cut encouraging rate shoppers, say brokers
Misguided information is causing an increase in the number of rate shoppers who aren’t quite sure what to make of the recent Bank of Canada rate cut, according to industry players.
Revamped mortgage rules sent high-ratio refis reeling - CMHC
The new lending rules have all but done away with high-ratio refis, the CMHC reports, confirming what many brokers have been saying for several months now.
Flaherty: No more room for rule changes
Brokers have heard it before, but the Finance minister is saying it again – this time with more conviction – arguing the government simply has no more room to play with the mortgage rules.
The Big Story: Protecting clients from themselves
The new mortgage rules have clients juggling their monthly debt payments to qualify, but there's real danger in getting too creative, say brokers.
The Big Story: New mortgage rules, new opportunities
Those new, tighter mortgage rules have a number of downsides for brokers, but are there any potential positives? Yes, they do, according to some seasoned players.
Posted rates set to maximize IRD
There’s a very good reason why some banks continue to advertise unusually high posted rates, argue some brokers, even as other lenders move to slash theirs to the point of precipitating a rate war.
TDFS departure spells big loss for brokers
High-ratio borrowing opportunities for B and so-called “C” clients have essentially disappeared with news Toronto Dominion will fold its non-prime lending arm, a broker “shocked” by the decision said Tuesday.
Brokers wary of TD consolidation
TD has moved to consolidate BDM services for its prime and alternative lending divisions – something brokers are worried could cost them future business.
Broker: Channel needs more one-year rate holds
A boom in construction permits for Ontario and Quebec is highlighting the need for greater access to one-year rate holds, says the head of a leading Montreal brokerage, arguing mortgage professionals are hamstrung in their efforts to capture a bigger share of condo sales during construction.
Rate wars sending brokers to the B-Side
Getting while the gettin’s good. An increasing number of brokers are deserting the rate wars, deciding to move over to the B side as a way of building a book less susceptible to the bullets of the banks and, indeed, other brokers.