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.
TD has moved to consolidate BDM services for its prime and alternative lending divisions – something brokers are worried could cost them future business.
A boom in construction permits for Ontario and Quebec is highlighting the need for greater access to one-year rate holds, says the head of a leading Montreal brokerage, arguing mortgage professionals are hamstrung in their efforts to capture a bigger share of condo sales during construction.
Getting while the gettin’s good. An increasing number of brokers are deserting the rate wars, deciding to move over to the B side as a way of building a book less susceptible to the bullets of the banks and, indeed, other brokers.