Canadian Mortgage News

January 2008 National Archive

Mortgage News & Press Releases - January 2008

• New Affordable Housing Opens in St. Thomas
  ST. THOMAS, Ontario, January 08, 2008 — The Government of Canada, the Government of Ontario and the City of St. Thomas held a ribbon-cutting ceremony today to mark the official opening of the Steele Street Apartments, an affordable housing project that provides rental units for lower-income families and individuals under the Canada – Ontario Affordable Housing …
  
• Housing Starts Reach Their Second Highest Level in Nearly Two Decades Despite Cooling in December
  OTTAWA, Ontario, January 09, 2008 — Housing starts in 2007 are estimated at 229,600, surpassing 2006 starts, and reaching their second highest level in nearly two decades. However, the seasonally adjusted annual rate1 of housing starts in December decreased to 187,500 units from November's 233,300 units, according to Canada Mortgage and Housing Corporation …
  
• CanEquity Reports Record Fourth Quarter in 2007
  CALGARY, Alberta, January 14, 2008 — With the Canadian Real Estate Market leveling off over the last several months, consumer needs have shifted from property purchases to refinances and equity take out mortgages which could explain why CanEquity Mortgage, a Calgary based National Firm, is reporting some of the best fourth quarter numbers since its inception in …
  
• MLS® resale market breaks $100 billion mark in 2007
  OTTAWA, Ontario, January 15, 2008 — MLS® resale housing activity, new listings, average price and dollar volume in Canada's major markets all reached their highest annual levels ever in 2007, according to statistics released by The Canadian Real Estate Association (CREA).
  
• Ontario Communities Get $65 Million Boost for Affordable Housing
  AJAX, Ontario, January 17, 2008 — The Government of Canada and the Government of Ontario today announced more than $65 million in funding for affordable housing across Ontario. The funding will help create 946 new affordable rental units and provide down payment assistance to 129 households. In addition, 113 houses in Northern Ontario will undergo repairs and renovations with funding from …
  
• Opening Doors for Affordable Housing in Southeast Calgary
  CALGARY, Alberta, January 18, 2008 — Families in the south-eastern Calgary community of Millican – Ogden will have access to more affordable housing after a grand opening ceremony was held today for a $13.2 million, 60-unit four-storey, multi-family housing development that will provide affordable rents to low-income households with children and persons with mobility …
  
• Bank of Canada lowers overnight rate target by 1/4 percentage point to 4 per cent
  OTTAWA, Ontario, January 22, 2008 — 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 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 4 1/4 per cent.
  
• Bank of Canada releases Monetary Policy Report Update
  OTTAWA, Ontario, January 24, 2008 — The Bank of Canada today released its January Monetary Policy Report Update. In this Update, the Bank said that the Canadian economy continues to operate above its production capacity, despite some slowing in growth in the fourth quarter of 2007. Both total and core inflation have been lower than projected in the October Monetary Policy Report, largely …
  
• Minister Solberg Announces Appointment to CMHC Board
  OTTAWA, Ontario, January 30, 2008 — The Honourable Monte Solberg, Minister of Human Resources and Social Development, and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC) announced today the appointment of Brian Johnston to CMHC's Board of Directors. Mr. Johnston will sit on the board as a representative of the Ontario …