Broker Channel Market Share – Q3- Ask a Vancouver Mortgage Broker

It seems that more power is being concentrated in the hands of fewer lenders. The mortgage broker channel’s top 10 lenders accounted for 85.6% of its volumes last quarter, according to data from D+H. That’s the highest level since we started tracking D+H market share reports in 2010. It’s against that backdrop that we see a micro trend taking […]

The Ultimate Mortgage Checklist – Ask Adil Virani, Vancouver Mortgage Broker

Have you ever had a sick feeling in your stomach after buying a car, or a big screen TV, or a boat, or expensive jewelry? It’s that nagging worry that you’ve bought the wrong model or spent more than you should have. Buyer’s remorse is common with big ticket purchases, but it’s not as common […]

Laurentian Closes Mobile Rep Operation – Ask a Vancouver Mortgage Broker

Laurentian Closes Mobile Rep Operation Some banks, like CIBC, have been on a hiring spree when it comes to mortgage reps. Not Laurentian Bank. It’s going the other way. “We have announced [Wednesday] that Laurentian Bank had decided to no longer offer residential mortgage loans through an internal team of mobile advisors,” said a spokesperson. […]

Shop Your Renewal – Ask a Vancouver Mortgage Broker

Shop Your Renewal By Rob McLister, Editor,CanadianMortgageTrends.com”  Lenders make a lot more money when they renew your mortgage than on your initial term. That’s partly because they don’t have to compensate anyone for referring you (or compensate them as much). But it’s also because many renewers don’t comparison shop as much or negotiate as hard. According to a […]

Get a mortgage without a salary – Consult with a Vancouver Mortgage Broker

There are things that you can do to help you qualify for a mortgage. Landing a mortgage is trickier for the self-employed than their salaried counterparts. Not only do self-employed people face higher interest rates and CMHC mortgage insurance premiums, they are also more likely to have their loan applications rejected outright. If you’re self-employed, […]

Strategic Matches – A New Way to Place Private Mortgages – Consult with a Vancouver Mortgage Broker

By Rob McLister, Editor, CanadianMortgageTrends.com Have you ever seen a cool new idea and wondered how on earth it took so long to come up with it? One such idea, at least in this author’s mind, is matching private lenders withnon-prime borrowers online. And a start-up called Strategic Matches is now doing just that. Strategic Matches simplifies […]

TD Joins RBC in Raising Fixed Rates – Ask Adil Virani – Vancouver Mortgage Broker

TD Joins RBC in Raising Fixed Rates  By Rob McLister, Editor, CanadianMortgageTrends.com” After cutting advertised rateslast week, TD Canada Trust has followed RBC’s leadin lifting rates back up. Like RBC, TD is raising its advertised: 4-year fixed …by 10 bps to 3.09% 5-year fixed …by 20 bps to 3.29% These changes take effect Tuesday, June 11. And if history is a guide, they’ll likely be matched by […]

Variable vs. Fixed Rates – The Latest – Consult with a Vancouver Mortgage Broker

By Rob McLister, Editor, CanadianMortgageTrends.com As many as 85% of newmortgagors are choosing fixed rates, says CAAMP. It makes you wonder, what is it going to take to get that number back to its historical average of ~65%? For one thing, the fixed-variablespread (i.e., difference between fixed and variable rates) needs to widen. With today’s typical 5-year fixed at 2.84% and […]

FSCO frustrated by unlawful advertising – Consult with a Vancouver Mortgage Broker

Too many unlicensed brokers and not enough resources has FSCO frustrated with the deluge of public complaints over illegal mortgage brokering advertisements.   “The guys who post the signs on the street posts, under the street lamps, they are preying on people in dire financial situations,” says Bhan Persaud, the senior licensing approvals officer with […]

So-called “Best Rate sites” are put to the test with shocking results.- Ask a Vancouver Mortgage Broker

by Steve Garganis There’s been a surge of ‘Best Rate’ sites popping up… Chances are, you’ve probably seen one or more of their online ads…   You know the ones…‘shopping’ for the Best mortgage rates in Canada’ and ‘comparing Canada’s mortgage brokers for the best rate”.   It does sound great… and it seems to be getting lots […]

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