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Mortgage Broker News | 01 Nov 2016, 02:18 PM Agree 0
Broker fears were confirmed Tuesday, with one big bank raising its prime rate less than a month following new mortgage rules
  • Marie | 01 Nov 2016, 02:40 PM Agree 0
    I'm not sure TD would have wanted that rate sheet published in a public website...
  • MaryAnn Calgary | 01 Nov 2016, 02:49 PM Agree 0
    Well Brokers - don't reward them with poor behavior. Stop sending them business and make that your collective stance. Regardless you need to do the best for the customer, but lets see how long TD can hold out. Last week they hit 50,000 people with rate increases on their LOC (unsecured). Maybe they are financially stressed.
  • anonymous | 01 Nov 2016, 02:55 PM Agree 0
    Well Mr. Morneau what do you say about your friends at the banks now!
  • John Greenlee | 01 Nov 2016, 03:00 PM Agree 0
    I don't agree with MaryAnn's stance.

    Rates are bound to go up. TD has many good products for consumers. As brokers, we are to find the best solution for each client. If that is TD one day and someone else the next, then so be it.

    Given they are the only (first) to raise their Prime Rate, it does make sense to not send variable rate clients there at this time as you wouldn't necessarily be giving them the best option (unless it's their only option).

    Just another day in the world of Brokering. Keep finding those solutions for your clients and all will be fine.
  • Michele Hall | 01 Nov 2016, 04:23 PM Agree 0
    The increase in TD's rate is also published on the news and in the paper . For heaven sake , do you really think it is going to be kept a big secret Marie ?
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