Flaherty stays - better the devil you know
Mortgage brokers may have been ready to burn Jim Flaherty in effigy last year when he tightened the mortgage rules, but yesterday’s announcement by the Prime Minister that Flaherty would remain as finance minister drew a grudging sigh of relief across the channel.
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.
One year later: Marking Flaherty’s mortgage rule changes
Happy anniversary? It’s been a year since the mortgage rule changes took effect, and brokers have felt the impact not only on their business, but especially their clients.
CMHC registers first covered bond programs
The Canada Mortgage and Housing Corporation announced the registration of two covered bond programs, with CIBC and RBC coming on board to offer the first registered programs.
Time to fight back on penalties, says broker
One broker has decided that enough is enough, and that it is time for brokers to fight back.
Shelved 1979 CMHC report a lost opportunity: author
The man who wrote a report urging the privatization of the CMHC back in 1979 says today’s housing market problems were predicted more than three decades ago.
RBC hike a sign; rate war is over: broker
RBC’s announced rate hike Friday is a signal the big bank is laying down its weapon of choice at least for the time being, say brokers.
CMHC seeks CEO with ‘risk management’ experience
CMHC’s next president and CEO should have risk management on their resume, according to the housing corporation’s advertisement in the Globe and Mail.
Another high-level CMHC staffer gone
Marc McInnis, the VP of insurance underwriting, servicing and policy for CMHC has stepped down, with no reason given.