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Free Professional Advice

Why choose Micah? Because I provide valuable professional advice and it’s FREE!

Why pay more than needed? Get my rate specials. Let me negotiate the best rate for you and save money.

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Best Rates

Let me shop the major banks and top lenders for you.

Let me negotiate the best rate. Remember I work for you, not the banks.

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Get Approved

My approval rating is high.

With my portfolio of lenders, I can find you a program that works for you.

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Savings

Lower rates equals thousands in savings.

Why pay more than needed? Get my rate specials. Let me negotiate the best rate for you and save money.

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Availability

When the banks are closed, I am not.

I work for you and I am at your service 7 days a week.

Blog by Micah Verceles

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Q3 2018 Bank Earnings

The dust has settled following the latest round of big bank earnings, which unveiled another solid quarter and record earnings.

The new B-20 regulations and higher interest rates so far appear to be having little effect on mortgage growth, with RBC reporting that customers are “self-adjusting” to the new landscape.

One big gift delivered to the banks courtesy of the B-20 guidelines is turning out to be higher renewal rates, since the new rules make it more difficult for existing homeowners to qualify at a new lender. Both RBC and CIBC report renewal rates in the 90-94% range.

As we do every quarter, we’ve picked through the Big Banks’ quarterly earnings reports, presentations and conference calls, and compiled all the mortgage notables right here. Key tidbits are highlighted in blue.

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