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BoC may end the rate wars

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Mortgage Broker News | 08 Mar 2012, 08:09 AM Agree 0
If the banks aren’t prepared to put the brakes on rising mortgage debt, the Bank of Canada may soon be, hinting that it could raise its key overnight rate as soon as this summer.
  • Eric Healey AMP | 09 Mar 2012, 05:17 AM Agree 0
    BMO recently put the Mortgege Brokers on notice they were going to do whatever BMO see's as necessary to take business from the Broker channel. What better way to acheive there goal than force BOC to increase rates by creating a rate war. Rate increases and or increased downpayments will achieve BMO goals a lot quicker than any direct competition from BMO's Brokers with our industry Brokers.

    Tough battle for CAAMP to fight. CAAMP needs to make sure these steps are not taken by the fed's they will hurt our industry.
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