💡Mortgage Bytes follow below... Canada's FINTRAC rules have hit the mortgage broker industry like a piano falling from the sky. Almost three weeks after FINTRAC started in the mortgage industry, we're getting emails from brokers at top brokerages still confused about their obligations. This includes brokerages

Some banks are hawking popular 3-year terms for 4.14% to 4.29%, or even less for fat loan amounts. In some instances, for strong borrowers with $600,000+ loan amounts, leading status brokers are getting 3.99% on discretion. We've seen multiple commitments at that rate in

Effective November 21, people with uninsured mortgages will be able to switch lenders without passing the federal mortgage stress test. That follows a similar move last October when the government clarified that people with transactionally insured mortgages can also switch lenders without a stress test. As for folks getting low-risk

If you're a mortgage originator and none of your CRM emails include graphs, it's time to jazz them up. Visuals tell stories better than words. Charts, in particular, accelerate comprehension and turn newsletters into less blah, more ah-ha. That's why mortgage clients and referral