What happened
Shares of EQB Inc. — parent of Equitable Bank, one of Canada's largest alternative mortgage lenders — surged more than 9% after Loblaw disclosed plans that could lift its ownership stake toward a quarter of the company, Canadian Mortgage Trends reports.
Why should a mortgage shopper care about a grocery giant's investment? Because it signals confidence in the alternative lending space — the lenders who serve self-employed borrowers, newcomers, and clients the big banks turn away. More capital flowing into that sector generally means more competition and better products.
“could raise its ownership stake to nearly 25%” — EQB shares jump as Loblaw signals plans to increase stake, Canadian Mortgage Trends
The EverLend take
If a big bank has declined your application, that's the start of the conversation, not the end. As brokers we work with alternative lenders like Equitable every week — and a strengthening alternative sector keeps those options competitive.
Source & further reading: EQB shares jump as Loblaw signals plans to increase stake on Canadian Mortgage Trends.
Wondering what this means for your own mortgage? Talk to an EverLend agent — no cost, no pressure.