Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Notify me of new replies via email
Mortgage Broker News | 26 Sep 2014, 10:59 AM Agree 0
The end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate.
  • Victor Simone | 26 Sep 2014, 12:12 PM Agree 0
    TD is not taking their own advice, though. They're pumping out money like Wonka's Chocolate Factory is pumping out candy--smartly.
  • Frank | 26 Sep 2014, 12:24 PM Agree 0
    I sat in a session with TD's top economist early spring of 2013 where he all but guaranteed a min. of .5% increase to prime by this time in 2014. Nothing has happened. They always say rates will go up and usually do not. Perhaps just trying to create a monopoly and burst in business for themselves by scaring the public. Canada and the U.S. cannot afford to have rates rise by much at all, do not see this happening.
  • Leon Tucciarone | 26 Sep 2014, 02:31 PM Agree 0
    I agree with Frank. Have a look at TD, and pretty much any economic forecaster's record of predicting and they rarely get it right. Most of the time they do it's a fluke. Great media attention and hype....that's it.
    9+ months out is a long way away. It is inevitable that rates will rise, sooner or later someone will guess right but not because they are great forecaster's.....just lucky to time it right!!
  • Kuldip S Panesar Homeland Mortgage Corp. | 26 Sep 2014, 03:04 PM Agree 0
    Yes the rates are record low. It will rise one day, but no one has the confirm predition when it will rise.
  • Omer Quenneville | 28 Sep 2014, 12:35 PM Agree 0
    They have been predicting a rate increase soon since the over night rate was been sitting at 1% all the way back to 2010. As a result people have been lining up to pay the much higher locked in rate for a 5 year fixed (not my clients). It is in the banks best interest to have you locked into a 5 year rate while rates are low, they make more money. Listen to what the banks says, you lose, listen to what a good mortgage broker says and you win. Unless the mortgage broker sells you down the river for the higher commission on the 5 year fixed.
  • Mike Rice | 29 Sep 2014, 01:04 PM Agree 0
    I'll beleive it when I see it!
Post a reply