Last week’s fixed-rate interest hikes at major banks—as well as the likely Bank of Canada prime increase on Wednesday—could spell bad news for Vancouver house hunters
TMG The Mortgage Group Canada ranked number six among this year’s list of 20 best companies to work for in British Columbia compiled by BCBusiness Magazine.
Those constantly multiplying construction cranes marring the downtown Toronto office window view could be harbingers of “severe economic shocks” for Canadians, according to the latest report from the Bank of Canada which raised warnings of overbuilding in the condo sector.
Kathy Gregory, founding president and CEO of mortgage services firm Paradigm Quest, was named by the Women Executive Network (WXN) as one of the country’s Top 100 Most Powerful Women for 2012.
At least one broker is suggesting CAAMP – meeting with officials in Ottawa next week – needs to reconsider its position on tighter mortgage rules and embrace the long-term benefits of the revamp.
CIBC’s annual report is now pegging a dollar figure to the closure of FirstLine, the move appearing to cost the bank $20 million in revenue for fiscal 2012.
Jim Flaherty’s reaction to a cooling real estate market may be the polar opposite of most brokers, with the finance head suggesting he’s “happy” about the slowdown.
CAAMP leadership will be talking to bureaucrats and politicians in Ottawa early next week in yet another effort to raise the red flag on tighter mortgage and lending regimes.
One broker is getting candid about rate buy downs, offering 2.89 per cent on five-year fixed to any client who qualifies and arguing a slowing market has mandated the move.
A seasoned broker foresees and, indeed, welcomes the mortgage industry’s move towards a national licensing regime, pointing to the development of a regulatory council.
A decision Tuesday to keep the Bank of Canada’s overnight rate steady – something expected to hold for all of 2013 – will likely slow switches for brokers.