If you are a reader of the Province….a couple of great articles in the Mortgages: A Special Supplement section. I encourage you to check it out.
1) “Canadians prefer fixed over variable” …RBC did a survey and it suggests even though people know the will save $ they still prefer fixed terms
2) “BMO stops using outside broker, expands own sales force” ….they believe offering different rates at the branch level vs broker level was confusing to the customee.. BMO doesn't mention it owns MCAP which is one the most popular mortgage lenders through mortgage brokers.
3) “Housing central to boomers’ needs”…..boomers are using the equity in their homes to renovate, purchase vacation homes, help their kids purchase, purchase investment properties and invest in the stock market - sounds like a lot of opportunity for mortgage brokers.
4) “Subprime woes stay south” …..it seems we are still ultra conservative on our lending criteria – compared to the US anyway
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