Family loans for first-time buyers a fact of life, says broker
According to a BMO report, at least one in four first-time homebuyers look to family to help make the downpayment – a number that may be low and a situation that is all too common, says one Toronto-area mortgage broker.
RateHub sees more clients clicking on variable rate options
If brokers want a barometer on what people are looking for in a mortgage, they need only check out the latest tracking numbers from RateHub.ca.
Tough year doesn’t diminish CMP Top 75 broker list
One Top 75 broker worked “harder and smarter” during what was a tough year in the channel – and did so without resorting to rate sites.
Hamilton brokers bask in housing boom
Hamilton mortgage brokers have been enjoying a blockbuster June, as that city has led Ontario in new housing with an impressive 65 per cent rise in starts.
Man’s best friend is also a broker’s
A dog is man’s best friend, but for one Newfoundland broker, his black lab was so much more. He was part of the business.
Loyalty agreements 'embarrassing' for brokers
There is more talk of loyalty and exclusivity agreements in the channel – but most mortgage brokers refuse to handcuff clients with a piece of legal paper, and doubt it will become common practice.
Could higher rates have same effect here?
Brokers doubt higher interest rates here will have the same effect as in the U.S., where potential homebuyers are backing off in greater numbers.
Quebec shakes up mortgage broker channel
Quebec is taking care of some housekeeping in its mortgage broker channel, addressing insurance and education as two key issues
The real threat to market recovery
Recent real estate numbers show a stabilizing market in Toronto and Vancouver, but one broker wonders if this recovery can sustain itself in the face of rising rates, and, more especially, OSFI’s tighter guidelines.
Revised CMHC numbers reveal stronger May, June
Canada Mortgage and Housing Corp have revised their June and May housing start figures, revealing a stronger market than expected – and evidence of a rebound from last year’s market slowdown brought on by tighter mortgage regulations.