Brokers: TD rate hike signals industry shift
The move by TD Bank, RBC and CIBC to raise rates on fixed mortgages because of rising bond yields may result in a temporary boon for lenders able to resist following suit in the next 24 to 48 hours, said industry professionals reacting to Monday’s move.
Broker: TD shift to business lending a good thing
TD Bank’s plans to use a significant uptick in business lending to make up for a cooling mortgage market is garnering mixed – albeit positive – reaction from brokers and mono-line lenders.
MCAP going after the Big Five
Mortgage lender MCAP is taking direct aim at the big banks, with bonuses for brokers bringing in clients who would otherwise renew or refinance with the Big Five.
Brokers encouraged to learn more about commercial mortgages
Residential mortgage brokers continue to turn down commercial business rather than lead clients through the often-daunting application process, private lenders told a recently held CMP mortgage workshop.
Brokers learn about fast-growing Alt-A market at CMP Mortgage Workshop
Brokers prepared to let Alt-A and non-prime clients pass them by may miss out on the market's fastest growing segment, those attending the recently held CMP Mortgage Workshop were told.
Brokers react to election call
An “election reprieve” from interest rate hikes may not translate into the busy spring season brokers were hoping for, with industry leaders identifying a possible downside to the federal campaign.
Broker of the Year finalists announced
It’s going to be a special night April 29th for two brokers, as they will receive the honour of being named Mortgage Broker of the Year at the fifth annual Canadian Mortgage Awards.
Broker Network of the Year finalists announced
This year’s Canadian Mortgage Awards will have some added excitement as the Mortgage Broker Network of the Year will be presented for the first time.
Brokers differ on whether to advise fixed or variable rates for clients
Brokers looking for definitive advice on steering clients toward fixed, variable or combination mortgages are out of luck, with industry opinion divided ahead of expected rate hikes.
BoC rate to reach two per cent by year end: RBC
As part of its economic outlook for 2011, RBC projects that the Bank of Canada overnight rate will rise from one per cent to two per cent by year-end.