Canadian Mortgage News

July 2006 National Archive

Mortgage News & Press Releases - July 2006

• CMHC Reduces Monthly Mortgage Costs
  PARRY SOUND, British Columbia, July 5th, 2006 — Canada Mortgage and Housing Corporation (CMHC) is helping to make homeownership more affordable and accessible for Canadians by eliminating homeowner high-ratio mortgage insurance application fees, and offering insurance for mortgages with longer amortizations and more flexible repayment …
  
• Two New Affordable Housing Projects Announced for Moncton
  MONCTON, New Brunswick, July 5, 2006 — Non-elderly singles and persons with disabilities in Moncton are getting access to more affordable housing with the official opening of Tannery Court located on High Street, as well as the announcement of a new 47 unit housing project located on Bonaccord Street in Moncton.
  
• VERICO Funds Unlimited chooses MorWEB for mortgage origination and customer management
  July 5, 2006 — Marlborough Stirling Canada (MSC) is pleased to announce that VERICO Funds Unlimited have selected MSC's MorWEB system for mortgage origination and customer management.
  
• New Affordable Housing Units for Seniors in Grand Falls
  GRAND FALLS, New Brunswick, July 6, 2006 — Seniors in Grand Falls will have access to more affordable housing with the construction of a new housing complex on 1st Avenue in Grand Falls.
  
• Canada and New Brunswick Announce New Affordable Housing Units for St. Stephen
  ST. STEPHEN, New Brunswick, July 7, 2006 — Non-elderly singles in St. Stephen now have access to more affordable housing units with the official opening of Heritage Chocolate in St. Stephen. The eight-unit building received $260,000 under the Canada – New Brunswick Affordable Housing Agreement.
  
• MorWEB upgrades to support new BC Cost of Borrowing regulations
  July 10, 2006 — In an effort to ease the confusion and complication associated with manual annual percentage rate (APR) calculations, Marlborough Stirling Canada has developed a simple spreadsheet to help BC mortgage brokers quickly calculate the APR, as required by the new Cost of Borrowing regulations that came into effect for British Columbia mortgage brokers on July 1, …
  
• Bank of Canada keeps target for the overnight rate at 4 1/4 per cent
  OTTAWA, Ontario, July 11, 2006— The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 4 1/2 per cent.
  
• Housing Starts Move Higher in June
  OTTAWA, Ontario, July 11, 2006 — The seasonally adjusted annual rate1 of housing starts was 232,200 units in June, up from 222,200 units in May, according to Canada Mortgage and Housing Corporation (CMHC).
  
• Secure Mortgage Group selects MorWEB for mortgage origination, customer management and private lending
  July 11, 2006 — Marlborough Stirling Canada (MSC) is pleased to announce that Secure Mortgage Group has selected MSC's MorWEB mortgage origination and customer management system to bring new efficiencies to both their mortgage brokerage and private lending operations.
  
• Heritage Home for Young Adult Mental Health Clients Opens
  VANCOUVER, British Columbia, July 12, 2006 — Watson House, an eight-bedroom restored heritage home, opened its doors today to young adults who are living with a mental illness.
  
• New Affordable Housing Units for Jacksonville
  JACKSONVILLE, New Brunswick, July 12, 2006 — Residents of Jacksonville will have more access to affordable housing with the construction of a new affordable housing complex on 43 Sewell Road in Jacksonville.
  
• GMAC Residential Funding and Mortgage Intelligence Role up their Sleeves to support Habitat for Humanity
  TORONTO, Ontario, July 12, 2006 — To help families in need achieve their dream of homeownership, volunteers from GMAC Residential Funding of Canada and Mortgage Intelligence plan to put down their calculators and cell phones and pick up hammers to lend a hand with other volunteers in support of Habitat for Humanity Toronto.Taking place on July 13th and 14th, approximately 25 GMAC-RFOC and …
  
• Bank of Canada releases Monetary Policy Report
  OTTAWA, Ontario, July 13, 2006 — The Bank of Canada today released its July Monetary Policy Report Update, which discusses current economic and financial trends in the context of Canada's inflation-control strategy.Overall, the Bank's outlook for growth and inflation in Canada is largely unchanged from that in its April Monetary Policy Report (MPR). Growth in the first half of 2006 …
  
• New Affordable Housing Units for Memramcook
  MEMRAMCOOK, New Brunswick, July 13, 2006 — Seniors, singles and persons with disabilities in Memramcook now have access to more affordable housing units with the official opening of Manoir du Mascaret in Memramcook. The 35-unit building received $1.19 million under the Canada – New Brunswick Affordable Housing Agreement.
  
• CanEquity Mortgage Looking for In-House Mortgage Consultant in Calgary
  CALGARY, Alberta, July 14, 2006 — The Canadian Equity Group Inc. (CEG) is currently seeking an in-house, self-motivated Mortgage Consultant to work from our main office in Calgary, Alberta. This individual should be a strong team player with at least 3 years in the mortgage and finance industry. The right candidate must be able to close up to 40 mortgage deals per month, and have a strong …
  
• Eight New Affordable Housing Units for Rogersville
  ROGERSVILLE, New Brunswick, July 14, 2006 — Residents of Rogersville with special needs now have more access to affordable housing units with the official opening of Services Communautaires de l'ARC. The eight-unit apartment building received $600,000 under the Canada – New Brunswick Affordable Housing Agreement.
  
• Affordable Assisted Living Opens for Island Seniors
  VICTORIA, British Columbia, July 17, 2006 — A new $8.8 million assisted living residence in Langford was announced today as federal, provincial, and civic representatives joined members of M'akola Housing Society to help celebrate the official opening of Jesken Aerie, which will provide 60 affordable apartments with support services for Aboriginal elders and non-Aboriginal …
  
• Downtown Church Converted into Affordable Housing
  BRANTFORD, Ontario, July 18, 2006 — Dalhousie Church Lofts Inc. celebrated the recent conversion of the former River of Life Church, to 17 new affordable rental units in Brantford. This unique project received approval for federal funding of $408,000 through Canada Mortgage and Housing Corporation's (CMHC) Residential Rehabilitation Assistance Program for Conversion. CMHC also provided an …
  
• New Affordable Housing Projects in Fredericton
  FREDERICTON, New Brunswick, July 20, 2006 — Non-elderly singles and persons with disabilities in Fredericton will have access to more affordable housing with the construction of three new affordable housing projects developed by Fredericton Non-Profit Housing Corporation Inc.
  
• Muslim Welfare Centre of Whitby Unveils Renovations
  WHITBY, Ontario, July 20, 2006 — Muslim Welfare Centre celebrated the 10th Anniversary of its Muslim Welfare Home for Needy Women and Children in Whitby by unveiling renovations today. The 33-bed shelter provides a safe environment and services for women and children who are victims of abuse and violence.
  
• 14 Homes Being Completely Renovated in Winnipeg’s Inner-City will Benefit Low- to Moderate-Income Families
  WINNIPEG, Manitoba, July 21, 2006 — Low - to moderate-income residents of Winnipeg’s north end will have access to more affordable housing with the upgrading and complete renovation of 14 homes by the North End Housing Project. The project is being funded with over $900,000 from the Government of Canada, the Province of Manitoba and the City of Winnipeg through the Winnipeg Housing …
  
• Unique Inner-City Project will Create Needed, New Accommodations for Low-Income People
  WINNIPEG, Manitoba, July 24, 2006 — Low-income residents of Winnipeg's inner city will have access to more affordable housing with the construction of "pocket suites" through a new pilot project developed by S.A.M. (Properties) Inc. in collaboration with several community organizations. The project is being funded with over $1 million from the Government of Canada, the Province of Manitoba …
  
• Affordable Housing Project Celebrates Start of Construction
  WELLAND, Ontario, July 26, 2006 — The Government of Canada, the Government of Ontario, Niagara Region, and the City of Welland held a sod turning ceremony today to mark the start of construction on a project that will create 44 units of affordable housing in Welland; 39 units are funded under the Canada – Ontario Affordable Housing …
  
• New Assisted Living Units to Benefit Vancouver Seniors
  VANCOUVER, British Columbia, July 26, 2006 — Federal, provincial and community funding partners gathered today to celebrate the opening of the Baptist Housing Society of B.C.'s Clarendon Court, a $13.2 million assisted living development that will provide 56 new homes for Vancouver seniors.
  
• Bank of Canada releases 2007 schedule of dates for its policy interest rate announcements
  OTTAWA, Ontario, July 27, 2006 — The Bank of Canada today released its 2007 schedule of eight dates for announcing decisions on its key policy interest rate, and confirmed the announcement dates for the remainder of this year.
  
• Official Opening of Townhouses for Flood Victims and Start of Renovations to Create More Affordable Housing
  PETERBOROUGH, Ontario, July 27, 2006 — The Government of Canada, the Government of Ontario, and the City of Peterborough today held a ribbon-cutting ceremony to mark the official opening of the River Ridge project, creating 40 units of affordable housing for victims of the 2004 Peterborough flood under the Canada – Ontario Affordable Housing Program. As well, an event was held at the …