Category: News

Another Stretch of Rate Stability as Bank of Canada Holds April Rate at 1.75%

By: Penelope Graham, Zoocasa The Bank of Canada (BoC) has ushered in another month of stability for borrowers, opting to keep its Overnight Lending Rate – which sets the variable pricing trends for the nation’s consumer lenders – at 1.75%, where it has remained since October of last year.  Softer economic conditions, both on a… Read more »

Parent Company of Quicken Loans Acquires Lendesk — Leading Canadian Mortgage Tech Startup

Rock Holdings’ investment to accelerate development of Lendesk’s mortgage origination network, streamlining Canadian mortgage broker and lender workflows while increasing security Vancouver, Canada (April 24, 2019) – Lendesk, Canada’s premier FinTech company providing technology to connect mortgage brokers with the country’s top lenders, today announced Rock Holdings, the parent company of Quicken Loans, the United… Read more »

Survey: Home Buyers Wanted Expanded Tax Credit in Federal Budget

By: Penelope Graham, Zoocasa  For Canadian home buyers, the national stress test is likely one of the most reviled mortgage policy changes introduced in recent history. While put in place to reduce risky borrowing practices – an acute vulnerability facing indebted households, according to the Bank of Canada – the stiffer mortgage criteria have received… Read more »

Borrowers Will Enjoy Rate Relief in Early 2019: Bank of Canada

By: Penelope Graham, Zoocasa The Bank of Canada has kicked off the new year with a rate hold, opting to leave its trend-setting Overnight Interest Rate untouched at 1.75% where it has remained since last October. That the central bank held off on hiking rates puts the breaks on its mandate to bring them to… Read more »

How the USMCA Will Lead to Higher Mortgage Rates

By: Penelope Graham, Zoocasa It was a long-fought battle, but trade relations between Canada and the U.S. are now on tentatively stable ground; in September, our two nations, along with Mexico, drafted the United States Mexico Canada Agreement, the new tri-lateral resolution to an impasse over the former North American Free Trade Act. While the… Read more »

Meet the Lendesk Network

For the last two years we’ve been working within the industry to bring to market something very special for Canadian mortgage brokers, and we’re thrilled to be able to share it with you. Today we’re proud to announce the Lendesk Lender Network, a direct-to-lender deal submission network with some of Canada’s top mortgage lending institutions,… Read more »

3 Signs to Watch Before a Bank of Canada Announcement

By: Penelope Graham, Zoocasa On July 11th, after seven stagnant months, the Bank of Canada hiked its Overnight Interest Rate by a quarter of a per cent, to 1.5%. While upward movement from the central bank is always noteworthy – its trend-setting rate is used by Canada’s consumer lenders to set their own mortgage and… Read more »

The BoC’s In a Holding Pattern – What Should Borrowers Do?

By: Penelope Graham, Zoocasa The Bank of Canada may have held its trend-setting interest rate at status quo in May, but the writing was all but on the wall for a hike to come in July; the central bank indicated as such in its statement, as rising inflation and job growth underpinned the need for… Read more »

Interest Rates Are Rising: How Can Mortgage Pros Help?

By: Penelope Graham, Zoocasa The bar to borrow in Canada is on the rise again, as the Bank of Canada hiked its conventional five-year mortgage rate on May 10, to 5.3% It’s the fifth time in the space of a year the BoC has increased this rate, from 4.64% in May 2017. A combination of… Read more »

The Impact of Technology on Lending—A Panel Discussion

At a recent event at OnDeck Capital in Toronto, our CEO Alex Conconi was on a panel of experts discussing the impact of technology on lending. As a software company working on establishing an easier way to process applications, it’s a topic that is at the front of our minds, always. Alex was joined by… Read more »