Vine Edition: Mortgage industry trends, the future of mortgage brokering and more

Exclusive chat with Lauren van den Berg, President and CEO of Mortgage Professionals Canada (MPC), to cover mortgage industry trends, the future of mortgage brokering and more.

“Whether you’re a first-time homebuyer or you’re moving up the ladder, mortgage brokers and lender partners are all sort of behind the scenes. We make sure everything happens, but we’re not necessarily always that first point of contact, that frontline connection that you might get with a realtor, for example, physically taking you through a home. Part of what I want to do with my mandate here in my role as CEO and President is to really start taking up more space and bragging about what we do and making sure that when you decide to embark on a home-buying journey, a mortgage broker is absolutely first on your list before you even speak to a realtor; and that’s because we know the local markets, we have that insight, that perspective and it’s not a transactional relationship. We want to be here over the course of your mortgage life cycle.”

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Vine Edition: Mortgage rates have gone up again. Looking beyond headlines.

The Bank of Canada (BOC) increased their overnight rate by 1.00%, bringing it to 2.50% on July 13th, taking the Prime rate for most lenders to 4.70%. This is the fourth increase in 2022. The increase was higher than expected as most economists had forecasted an increase of 0.75%, making this one of the highest increases since 1998.

David Goncalves and Hugo Dos Reis weigh in on the current rate environment, their expectations for the near future and what they have been suggesting to their clients.

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