Canadian Mortgage Professional

Mortgagebrokernews.ca is brought to you by Canadian Mortgage Professional (CMP) magazine, which is the top independent magazine for mortgage experts in Canada. Since its inception in 2005, the magazine focuses on the most recent news, updates, and changes in the mortgage industry. It also includes specialized sections on sales and marketing, helping Canadian mortgage professionals grow their businesses effectively.

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NAMB calls for mortgage rule changes as Fannie-Freddie shakeup continues

21 hours ago | mpamag.com | Fergal McAlinden

Association puts forward proposals after FHFA's Pulte calls for fresh ideas By 24 Apr 2025 An overhaul at Fannie Mae and Freddie Mac is gathering pace, with Federal Housing Finance Agency (FHFA) director Bill Pulte issuing a call on X for input on “ideas on what to do differently” at the government-sponsored enterprises (GSEs) – and the National Association of Mortgage Brokers (NAMB) already has a few suggestions.
Variable mortgage rates stall above fixed rates - what should borrowers choose?

22 hours ago | mpamag.com | Fergal McAlinden

Fixed rates ticked slightly upwards but are down compared with two weeks ago. Which rate type are borrowers choosing? By 24 Apr. 2025 The Bank of Canada brought its rate-cutting path to a shuddering halt last week, ending a run of seven straight reductions on Wednesday by leaving its benchmark rate unchanged.
New US home sales see surprising jump in boost to mortgage market

1 day ago | mpamag.com | Fergal McAlinden

March sales unexpectedly jumped – but how will tariff volatility affect the outlook for the months ahead? By 23 Apr 2025 The US housing market shook off tariff-induced fears about the economy’s future by posting an unexpected increase in March new home sales, getting the spring homebuying season off to a good start.
Rising insurance costs in Oklahoma put squeeze on mortgage industry

1 day ago | mpamag.com | Bryony Garlick

On top of already existing problems in the housing market, brokers are now navigating surging insurance premiums By 23 Apr 2025 Oklahoma’s mortgage landscape is being reshaped by surging insurance premiums - placing a new strain on borrowers and lenders alike, already dealing with rising interest rates and inflated home prices.
The road to becoming a $6 billion broker

1 day ago | mpamag.com | Fergal McAlinden

Carving out a niche in the commercial space has helped this mortgage exec forge a multibillion-dollar career, with $1 billion funded in 2024 alone By 23 Apr. 2025 Few, if any, sectors of the mortgage industry have been completely immune to the rising-interest rate environment of the past few years, with climbing borrowing costs pushing many clients to the sideline and weighing against funded volume.
A coming HELOC surge could help brokers bring business to the next level

2 days ago | mpamag.com | Matt Sexton

'It's not the same product they knew five or 10 years ago': mortgage exec By 22 Apr 2025 A surge in home equity, combined with an increase in consumer debt, is starting to fuel an increase in applications for home equity lines of credit (HELOCs). One loan professional believes that surge could help brokers forge relationships with customers for when they’re ready to buy in the future.
Crypto mortgages: Some say they’re the next big thing, but others aren't buying it

2 days ago | mpamag.com | Matt Sexton

Mortgage professionals divided on whether cryptocurrency will take the industry by storm By 22 Apr 2025 A growing number of Americans are holding cryptocurrency, and uptake is only expected to increase in the years ahead. Some are even using it to fund full mortgages and downpayments – and it’s no surprise that many brokers are seeing increased discussion from clients exploring using their digital currency to help purchase a home.
Why hybrid finance firms thrive in Hawaii's pricey market

2 days ago | mpamag.com | Bryony Garlick

In an industry obsessed with specialization, one hybrid firm is betting big on versatility – and it’s paying off By 22 Apr 2025 Automation may cut the grunt work, but running a boutique firm that juggles lending, broking and fund management still demands hands-on hustle - and it’s a model that’s quietly thriving.
Trump's trade war casts a 'deep chill' over Canada's housing market

2 days ago | mpamag.com | Fergal McAlinden

Expectations for a market recovery are fading fast as the economy braces for coming shock. When will the outlook improve? By 22 Apr. 2025 The national housing market appeared poised for a rebound at the beginning of the year in Canada as hopes rose that lower interest rates would nudge homebuyers off the sidelines and see activity heat up by spring.
Clamor for adjustable-rate mortgages surges, offering brokers another tool to unlock market

3 days ago | mpamag.com | Matt Sexton

Lower rates on ARM loans are turning many borrowers' heads By 21 Apr 2025 More borrowers are opting for adjustable-rate mortgage (ARM) loans at a time when pandemic-era ARM loans are set to adjust for the first time, a combination of factors that could kickstart the mortgage market. When the Mortgage Bankers Association (MBA) released its weekly survey on Wednesday, it noted the ARM loan share of new applications was 9.6%, the highest rate since November 2023.