Mortgage News & Press Releases - June 2004
- Bridgewater Financial Services chooses ASP version of Marlborough Stirling Canada's mortgage administration solution.
June 7, 2004 - Marlborough Stirling, a leading provider of business solutions to the financial services sector is pleased to announce that Bridgewater Financial Services, a leading Canadian residential mortgage lender, has selected the newly launched Application Service Provider (ASP) version of its Optimus mortgage administration solution. This makes Bridgewater Financial Services the first …
- Bank of Canada keeps target for the overnight rate at 2 per cent
OTTAWA, Ontario, 8 June 2004 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 1/4 per cent.
- Housing Starts Remain High In May
OTTAWA, Ontario, June 8, 2004 — The seasonally adjusted annual rate1 of housing starts was 238,800 in May, compared with 241,600 in April, according to Canada Mortgage and Housing Corporation (CMHC).
- Canadian homebuyers buy more time to consider money-saving options
After more than three years of historically low interest rates, first time Canadian homebuyers and repeat buyers are wondering how current interest rate trends are affecting the mortgage market and home affordability. While the Bank of Canada is holding short-term interest rates steady, the rates on many types of mortgages have been edging upwards in recent weeks, due to movements in the bond …
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Making the minimum monthly payment of 2% ($200 to start on a $10,000 debt) at 18% interest will cost you around $38,930 & will take about fifty-seven (57) years to pay off!
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