According to a Canada Mortgage and Housing Corporation analysis, mortgage renewals with different lenders in Toronto declined dramatically in 2017 compared to the year before
It may be the in the future, but brokers are looking at the inevitable rate hike and anticipating what the banks will do with their own rates at that time.
Mortgage loans for clients with bruised credit happen every day – but the industry as a whole needs to ensure those loans are improving fiscal responsibility, and not sinking the client deeper in debt, says one alt lender.
It could make a mess, but merging two small brokerages may also make the most of a mediocre market.
The latest figures from CREA show that the rise in home sales depends on the local market.
The Bank of Canada has lowered its overnight rate to 1/2 per cent.
With CAAMP set to re-evaluate its future – and the role the next leader will take – industry players believe there are certain things the association should focus on, including providing more support specifically to brokers.
Economists are almost split down the middle as to whether the Bank of Canada will cut its rate later today, and one industry association is warning against it.
As more lenders move into the alternative space thanks to the current stringent lending rules, lenders are looking to brokers to up their game to ensure those clients with bruised credit are securing mortgages.
Exponential year-over-year volume growth has prompted one national broker network to add a new president to its team.