Canadian Mortgage News

December 2007 National Archive

Mortgage News & Press Releases - December 2007

• Bank of Canada lowers overnight rate target by 1/4 percentage point to 4 1/4 per cent
  OTTAWA, Ontario, December 04, 2007 — The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 4 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 4 1/2 per cent.
  
• 28 New Affordable Apartments Open in Brantford
  BRANTFORD, Ontario, December 07, 2007 — The Cordage Lofts, on Sherwood Drive, celebrated the official opening of 28 new affordable rental apartments for lower-income individuals in the Brantford area.
  
• Housing Starts Remain Stable in November
  OTTAWA, Ontario, December 10, 2007 — The seasonally adjusted annual rate1 of housing starts was 227,900 units in November, essentially unchanged from 227,600 units in October, according to Canada Mortgage and Housing Corporation (CMHC).
  
• National Rental Vacancy Rate Unchanged from October 2006 at 2.6 per cent
  OTTAWA, Ontario, December 13, 2007 — The average rental apartment vacancy rate in Canada's 34 major centres1 remained unchanged at 2.6 per cent in October 2007 compared to October 2006, according to the Rental Market Survey released today by Canada Mortgage and Housing Corporation (CMHC).
  
• Barrie Transitional Housing Completes Renovations
  BARRIE, Ontario, December 18, 2007 — Women and children recovering from abusive and violent relationships in Simcoe County are benefiting from the completion of several renovations to the Samaritan House Community Ministries (SHCM) Transition House.
  
• Bank of Canada welcomes restructuring announcement by Pan-Canadian Investors Committee
  OTTAWA, Ontario, December 23, 2007 — The Bank of Canada welcomes the announcement that an agreement-in-principle has now been reached among parties to the Montreal Accord for the restructuring of non-bank asset-backed commercial paper. This is a positive step forward for Canada's capital markets. Going forward, it will be important that detailed information be made available to all …