Now may be the time for your clients to strike, with one big bank arguing mortgage rates are as low as they will go.
The current economic climate is expected to draw a number of one type of client, but it isn’t the kind brokers will cash in on.
Misguided information is causing an increase in the number of rate shoppers who aren’t quite sure what to make of the recent Bank of Canada rate cut, according to industry players.
Renewed frustration around lender penalties have forced one broker to make a FSCO complaint, but is it really time for Canada-wide regulation?
Frustrations mount that the banks aren’t passing the entire savings onto their clients in the wake of another axed benchmark rate.
Stingy – that’s how brokers may characterize the 10 bps drop by banks yesterday, and leaving the door open to monolines.
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.
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.
Can brokers expect a second rate cut this week?
Broker dismisses “shadow” lending talk as “nonsense”.