Pineapple Real Estate Success Webinar Featuring Equifax Canada

Pineapple Real Estate Success Webinar Featuring Equifax Canada

This webinar series features senior executives from Canada’s leading finance and real estate companies presenting the latest industry risks and trends to our mortgage agents and their valued Realtor partners. Watch this webinar on credit with Eric Poblete from Equifax Canada.

Some key highlights from this webinar:

Risks in the market:

• Trigger rates and renewal rates are top of mind for customers.
• There are 1.2 million mortgage loans coming up for renewal in the next 2 years that will face a much higher rate.
• Fraud is increasing. Equifax has reported $2.392 Billion in fraud loss avoidance in 2021, which is about half of the amount they believe had actually occurred across the country.

Trends to know about:

• New to Canada - Canada has plans to welcome 1.45M newcomers between 2021 to 2023.

Understanding Credit:

• How the credit score is determined - 35% payments (whether you pay on time or not), 30% credit utilization (amount used vs. limit), 15% history, 10% new inquiries, 10% total amount of credit.
• Soft inquiries do not affect a client's credit score.
• Hard inquiries can affect a client's score - this includes mortgage, car, credit card, and rental application inquiries.
• Multiple mortgage inquiries are only counted as one event when pulled over a 45-day period.

What's Next

Want to know what's next? Get in touch with us to explore more.