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July 2006 National Archive

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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 options. "These innovative financial solutions will …
  • 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. The housing projects both received funding under the Canada – New …
  • VERICO Funds Unlimited chooses MorWEB for mortgage origination and customer ...
    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. Chris Aleung, Manager of VERICO Funds Unlimited, says: "We really like the concept of MorWEB, how it's all about accessibility. We can sign on to the system from anywhere and engage in immediate …
  • 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 1 st Avenue in Grand Falls. The project, known as "Les Villas LPR," received $390,000 in funding under the Canada – New Brunswick Affordable Housing Agreement. Mike Allen, Member of Parliament for Tobique-Mactaquac, on …
  • 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. The Honourable Greg Thompson, Minister of Veterans Affairs and Regional Minister for …
  • 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, 2006. In …
  • 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. Overall, the outlook for economic growth and inflation in Canada is largely unchanged from the April Monetary Policy Report ( MPR ). The …
  • Housing Starts Move Higher in June
    OTTAWA, Ontario, July 11, 2006 — The seasonally adjusted annual rate 1 of housing starts was 232,200 units in June, up from 222,200 units in May, according to Canada Mortgage and Housing Corporation (CMHC). "Although housing starts moved higher in June, much of the increase came from the volatile multiple segment of the new home market," said Bob Dugan, Chief Economist at CMHC's Market …
  • Secure Mortgage Group selects MorWEB for mortgage origination, customer ...
    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. Mike Ashe, MorWEB's Regional Director for BC, says: "Secure Mortgage has an experienced team of brokers that offers …
  • 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. "Canada's new Government is proud to be a funding partner in this project," said James Moore, Member of Parliament for Port Moody – Westwood – Port Coquitlam, on behalf of the Honourable Diane Finley, …
  • 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. The Darrell Sewell project received $650,000 in funding under the Canada – New Brunswick Affordable Housing Agreement.
  • GMAC Residential Funding and Mortgage Intelligence Role up their Sleeves to ...
    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 …
  • 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. The Honourable Greg Thompson, Minister of Veterans Affairs …
  • 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. The announcement was made by the Honourable Greg Thompson, Minister …
  • 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 seniors. …
  • 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. The projects received $1.1 million under the Canada – New Brunswick Affordable Housing Agreement and …
  • Muslim Welfare Centre of Whitby Unveils Renovations
    WHITBY, Ontario, July 20, 2006 — Muslim Welfare Centre celebrated the 10 th 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. The federal government provided $78,243 through Canada Mortgage and Housing …
  • 14 Homes Being Completely Renovated in Winnipeg’s Inner-City will ...
    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 ...
    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 …
  • 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 Program. The Honourable Robert Nicholson, Member …
  • 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. "Canada's new government is proud to help build these new homes, which will let seniors remain …
  • Bank of Canada releases 2007 schedule of dates for its policy interest rate ...
    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. The announcement dates from September 2006 through December 2007 are: Wednesday, 6 September 2006
  • Official Opening of Townhouses for Flood Victims and Start of Renovations to ...
    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 …

 

 
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