Brokers aren't ready to trust Flaherty
A year after he imposed stricter guidelines on the housing market, Finance Minister Jim Flaherty announced Wednesday that he has no plans to further intervene. The announcement hasn’t provided comfort for mortgage brokers, though.
Secrets for stealing (clients) from the bank
Growing interest rates may ultimately make it harder for brokers to take condo clients away from a rate hold with the bank, but one leading broker is offering his strategy for stealing business away despite that changing market.
Another bank, monolines hike rates
Following BMO’s lead – which raised its fixed rates on Tuesday – both RBC and a number of monolines have raised their rates. And another big bank is expected to announce its increase very soon.
BMO gives a gift to monolines
The bank that rocked the market with its “2.99 no-friller” announced Tuesday it will be raising the rate on its five-year, fixed-rate mortgage to 3.79 per cent from 3.59 per cent, widening the competitive edge brokers enjoy through monolines. At least for now, say industry players.
Brokers on lenders teaser: turnaround times
Anecdotal feedback may hint at growing dissatisfaction with lender turnaround times, but preliminary results for CMP’s Brokers on Lenders survey paint a different picture -- especially in light of an identical poll of Australian brokers.
Broker boom still in the offing
He told you so.
Nova Scotia’s real estate market was abuzz with speculation after news of a $25 billion shipbuilding contract was announced in late 2011. Brad Compton of Invis, however, warned that brokers and property sellers alike shouldn’t count their real estate boom before it hatches – something echoed in data now pointing to a 9 per cent drop.
Closing time: Moving the storefront online
The storefront is dying as more and more brokers are ditching them in favour of catching eyes online and not on the street.
Using Twitter to bolster your community... and client base
It may be impossible to quantify exactly how much business Twitter drives to a company, but one leading broker – who has organized successful community events through Twitter to bolster his hometown’s economy – believes the social media platform is invaluable for building connections.
To tweet or not to tweet; for brokers, that is the question
He may have over 14,000 Twitter followers, but Jessi Johnson of Verico mortgagebrokerteam.ca has scaled back on his Twitter activity – now convinced it's a lackluster business development tool.
Brokers buoy B lender
Equity Financial Trust’s decision to focus on mortgages has been a good move, with the release of its second quarter numbers hinting at the growing popularity of B business in the wake of ever-tightening lending rules.