Canadian Mortgage News

December 2008 National Archive

Mortgage News & Press Releases - December 2008

• Housing Starts Moderate in November
  OTTAWA, Ontario, December 08, 2008 — The seasonally adjusted annual rate 1 of housing starts was 172,000 units in November, down from 211,800 units in October, according to Canada Mortgage and Housing Corporation (CMHC). “The decrease in November housing starts can be attributed in part to the volatile multiple starts segment,” said Bob Dugan, Chief Economist at …
  
• Bank of Canada lowers overnight rate target by 3/4 percentage point to 1 1/2 ...
  OTTAWA, Ontario, December 09, 2008 — The Bank of Canada today announced that it is lowering its target for the overnight rate by three-quarters of a percentage point to 1 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 1 3/4 per cent. The outlook for the world economy has deteriorated significantly and the global recession …
  
• National Rental Vacancy Rate Decreases in 2008
  OTTAWA, Ontario, December 11, 2008 — The average rental apartment vacancy rate in Canada's 34 major centres 1 decreased to 2.2 per cent in October 2008 from 2.6 per cent in October 2007, according to the Rental Market Survey released today by Canada Mortgage and Housing Corporation (CMHC). "Demand for rental housing in Canada increased due to high migration levels, youth employment …
  
• Governor Carney discusses key risks to financial system, advocates for ...
  TORONTO, Ontario, December 17, 2008 — While measures taken to address the global financial crisis will be successful, policy-makers need to improve their ability to detect the next crisis before it occurs, Bank of Canada Governor Mark Carney said today. In a speech to the Women in Capital Markets group, Governor Carney said that taking a macroprudential approach to regulation, – an …