Equity Refinance Mortgage Loans Canada - Equity Mortgage Loans Canada - Second Mortgage Loans Canada
Mortgage Loans Canada, Mortgage Refinance Canada, Equity Mortgage Loans CanadaOnline Mortgage Application Form Instant Mortgage Approval 1-866-573-3122 24 HOUR CUSTOMER SERVICEEQUITY REFINANCE MORTGAGE LOANS CANADA BLOGMortgage Canada Buying and selling a home cheat sheetMortgage Canada Words To Know When Buying A HomeImportant Mortgage Websites linksMortgage Canada Basics - Mortgage Canada GuideMortgage Canada CMHC Newcomers to Canada Buying your First HomeMortgage Canada CMHC Home Buying Step By StepMortgage Canada CMHC Condominium Buyers GuideMortgage Canada Compare all Canadian Credit CardsHow Credit Effects Your Canadian MortgageMortgage Canada CMHC Housing Market Outlook Canada Edition Page 1Mortgage Calculator - Mortgage calculators allow you to make informed mortgage decisions
Equity Refinance Mortgage Loans Canada, Home Equity Unlocking, 1st & 2nd Mortgages, Your Mortgage Experts. My right Mortgage, INSTANT APPROVAL 24/7 CUSTOMER SERVICE FAST MORTGAGE PAYOUTS IN CANADA HIGHEST MORTGAGE APPROVAL RATE IN CANADA 1-866-573-3122

HOME BUYING, BUYING YOUR FIRST HOME & INFORMATION FOR SEASONED HOMEBUYERS
FINANCIAL CONSUMER AGENCY OF CANADA
CANADIAN ECONOMY NEWS
MORTGAGE BROKER NEWS
October, 2015
November, 2015
December, 2015
January, 2016

Brokers exiting market? by Justin da Rosa

Real estate agents in this once red-hot market are leaving in droves, but will that trend extend to mortgage brokers?

 
 

Brokers exiting market?

 
As house prices and sales plummet in Fort McMurray, real estate agents are leaving for greener pastures – but are brokers following them?

“Brokers aren’t really leaving because they can work entirely (across province); I know an Alberta-based broker who winters in Mexico and still does mortgage business in Calgary,” Alberta-based broker Ken Priest told MortgageBrokerNews.ca. “Any broker who has been around for a while works all of Alberta.”

As the cliché goes, real estate is local, but brokers in struggling Fort Mac seem to have an advantage because they have the ability to base themselves outside the markets in which they operate.

Phil Soper, chief executive officer of Royal LePage Real Estate Services, told the National Post that Fort-McMurray based agents are leaving the area in hopes of taking advantage of markets that haven’t been hit as hard as the capital of oil country.

“Our offices in Edmonton are experiencing a transfer of agents from Fort McMurray and you’d expect that, because the region is experiencing the most severe change in economic fortune in Canada in years,” Soper told the Post.

Those defections may not be a surprise.

According to CREA’s most recent stats, dollar volume for home sales is down 47.8% year-to-date in Fort McMurray. On a year-over-year basis, dollar volume fell 52.8% in October.

Sales have also taken a major hit, showing a 44.8% year-to-date decrease. Year-over-year sales dropped 41% last month.

The average price, meanwhile, has fallen 5.5% year-to-date. On a year-over-year basis, prices fell 20% in October.

These numbers contrast greatly with what is occurring across the country.

Dollar volume is up 13.3% year-to-date; sales are up 4.8 year-to-date; and the average prices has risen 8.1% year-to-date.

Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

 

Name (required)
   
Comment (required)
   
 
   
   
  By submitting, I agree to the Terms & Conditions
 
 
 
 
<< Back Add New Comment
0 items total
Add New Comment
Name*
Subject*
Comment*
Please type the confirmation code you see on the image*
Reload image

Powered by 4GoodHosting