HomeMortgageEQB sees mortgage growth moderating following 'tough' quarterly report

EQB sees mortgage growth moderating following ‘tough’ quarterly report

‘Clearly, homebuyers are sitting on the sidelines a little bit more’

Article content

Challenger bank EQB Inc. is expecting growth in conventional loan originations to moderate over the rest of the year as a real estate slowdown weighs on demand.

Advertisement 2

Article content

In an interview on Wednesday, chief executive Andrew Moor said Equitable Bank — the company’s schedule I bank — has seen some slowing in activity in terms of new mortgage applications, but that that was to be expected with rapidly rising interest rates.

“Clearly, homebuyers are sitting on the sidelines a little bit more,” Moor said, adding that the bank saw weaker results in Ontario, which makes…

Read more at financialpost.com

RELATED ARTICLES
- Advertisment -

Most Popular