Should Mortgage Brokers Force Exclusivity Deals?
RBC and TD Canada Trust were the first to raise their variable mortgage interest rates this week and by the time end of week came, all the others had followed suit. Consumers though, are not quick to be fooled and rarely go with the first rate they’re given. So in turn, they do their due diligence and run around town getting quotes from other lenders, most of them mortgage brokers, to try and get a cheaper rate. Once the consumer gets the cheaper rate from the broker, they then go back to their bank, asking them to match the rate. And as this week has proven, most times the banks will. So where does the unfairness lie?
Read moreSaving for a Home? Should You Use an RRSP or a TFSA?
When it comes time to start thinking about buying a home, you’ll hear a lot of talk about the Home Buyer’s Plan, an incentive program provided by the government through the RRSP. This plan, which has been around since the early 90s, allows future homebuyers to use their RRSP as a savings account, from which the funds can later be withdrawn and used as a down-payment on a future home. But, when you start speaking to mortgage brokers about financing your future home, you may hear of different options: one of these being TFSAs, or tax-free savings accounts.
Read moreRBC TO Brokers: We’re Sorry.
RBC Vs. Mortgage Brokers: Blown Way Out Of Proportion, But A Good Lens From Which To View The Mortgage Industry Nevertheless.
Read moreLong Live The King! Cash, or Credit?
Regardless of anything else, credit is the one key factor of your application that is almost entirely under your control …
Read moreMajor Banks Hike Mortgage Rates on Fixed-Rate Mortgage Products
Fixed Rate Mortgage Products – Major Banks Raising Rates
Read moreReal Estate Agents Entitled to Finder Fee
According to a new agreement, real estate agents will now be entitled to a fee of anything above zero while homeowners looking at MLS home listings are required to pay the broker a flat fee.
Read moreMajority of Canadian Baby Boomers Still Have an Outstanding Mortgage
A large percentage of baby boomers in Canada are struggling to pay off their mortgage, and many of them now want to move to a smaller house.
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