Had a few things to update on...
-Deutsche Bank is rumoured to be pulling out of the origination side for mortgage lenders. They provided funding for a number of monoline lenders in Canada.
-reports say that home values will drop 2% this year
-reposts also say that home sales are up 20% over last year, but last year was down from 2008
-Bank of Canada's overnight/benchmark rate will go up in June, likely by 0.25%. What no one is talking about is how this will affect lenders Prime rates (today at 2.25%). Most people expect that lenders will raise rates by that same 0.25%, but I think the Prime rates will go up more than that (maybe even 0.50%)
-bond yields are all over the place lately. This is due to a number of reasons all linked to the stock markets. The European economy, the Greek debt crisis, US economic recovery are all affecting the stock market and bond yields.
-CAAMP Atlantic is coming up on June 14th. By the looks of the presenters list, this year will be a good one for the attendees. Home Trust's own Martin Reid (President) will be giving a presentation on Securitization - don't miss this.
-foreclosures in rural areas of Atlantic are up. This is a trend that many lenders are keeping an eye on.
-social media is the biggest buzz this spring. Are you using it to boost your business. Twitter, Facebook, Linkedin, and Blogspot are great, free ways to start using social networking to your advantage
-the "white paper" with proposed changes to the NS Brokers and Lenders Registration Act is out for industry review. Get your copy today at http://www.gov.ns.ca/snsmr/consumer/pdf/Mortgage-Brokers-Discussion.pdf -have a voice and reply to the white paper. It is your industry.
