For many in the business, 2023 was to the mortgage sector what pigeons are to statues.
Fortunately, the slate wipes clean in less than a month. With rate relief on the horizon and December volumes as slow as Toronto traffic, there's no better time to strategize on expanding
The in-house lenders of major U.S. homebuilders are buying down mortgage rates like they're in a frenzy. It's become their go-to strategy to move new homes.
For example, America's largest homebuilder, D.R. Horton, offers rates a whopping 150 bps below the market.
When Smith Financial bought out Home Capital, it necessitated that Home lose its precious NHA mortgage-backed securities (MBS) and Canada Mortgage Bond (CMB) allocations—i.e., the ability to fund its mortgages through MBS and CMBs.
That was a crushing blow to Home's prime mortgage competitiveness. After all,
In the once stable world of mortgage market share, the Big 6 banks have slipped on a banana peel. Their market share of new mortgage originations sank 590 bps to 53.8% in Q1 2023, according to new CMHC data. That starkly contrasts with their previous 62.0%, from just
Pine trees can be prickly. How appropriate because that's exactly what kind of competitor Pine Canada Financial Corporation ("Pine") is becoming.
You'll notice in the rate table below, Pine has decided to emerge from the forest undergrowth and overtake every national lender in uninsured
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