Canadian Mortgage News

January 2006 National Archive

Mortgage News & Press Releases - January 2006

• 2005 Housing Starts Rank Second Highest Since 1988
  OTTAWA, Ontario, January 10, 2006 — The seasonally adjusted annual rate1 of housing starts was 227,700 units in December, up slightly from 225,000 units in November, according to Canada Mortgage and Housing Corporation (CMHC).
  
• Marlborough Stirling Canada's Omiga mortgage underwriting, fulfillment and funding solution is launched at ResMor Trust
  January 20, 2006 — Bill Pitkin, Marlborough Stirling Canada President and Chief Executive Officer, is pleased to confirm the successful implementation of the Omiga mortgage origination system at ResMor Trust. Through Omiga, ResMor staff can underwrite, fulfill and fund mortgages through one efficient system capable of performing automated approvals. This functionality is complimented with …
  
• Bank of Canada raises overnight rate target by 1/4 percentage point to 3 1/2 per cent
  OTTAWA, Ontario, January 24, 2006 — The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3 1/2 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 3 3/4 per cent.
  
• Bank of Canada releases Monetary Policy Report Update
  OTTAWA, Ontario, January 26, 2006 — The Bank of Canada today released its Update to the October Monetary Policy Report (MPR). The Update discusses current economic and financial trends in the context of Canada's inflation-control strategy.
  
• Housing Starts Will Moderate
  OTTAWA, Ontario, January 31, 2006 — Housing starts will continue to moderate this year to 208,700 units after reaching 225,481 units in 2005, according to Canada Mortgage and Housing Corporation's (CMHC) first quarter Housing Market Outlook, Canada Edition report. After five consecutive years above 200,000 housing starts, residential construction will decline to 194,800 units in …