Canadian Mortgage News

March 2009 National Archive

Mortgage News & Press Releases - March 2009

• Bank of Canada lowers overnight rate target by 1/2 percentage point to 1/2 per ...
  OTTAWA, Ontario, March 03, 2009 — The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage point to 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3/4 per cent. The outlook for the global economy has continued to deteriorate since the Bank's January Monetary Policy …
  
• Canadian Mortgage Clients Not Troubled by Recession
  CALGARY, Alberta, March 04, 2009 — The current economic recession has many people living in fear, but there are a few ways to handle the current conditions. You can bury your head in the sand and wait for things to recover or you can take advantage and make your own situation better while market rates and products are available. CanEquity Mortgage, one of Canada's top-rated mortgage …
  
• Terra View Homes Recognized for Healthy Housing Practices
  GUELPH, Ontario, March 04, 2009 — Canada Mortgage and Housing Corporation (CMHC) honoured Terra View Homes today under the CMHC Healthy Housing™ Recognition Program for its efforts in building healthier homes. “CMHC recognizes Terra View Homes for its dedication to building healthy, energy efficient homes that also incorporate design principles for seniors who plan to remain …
  
• Housing Starts Decrease in February
  OTTAWA, Ontario, March 09, 2009 — The seasonally adjusted annual rate 1 of housing starts declined to 134,600 units in February from 153,500 units in January, according to Canada Mortgage and Housing Corporation (CMHC). “Increased listings and reduced sales in the existing home market continue to impact the new home market,” said Bob Dugan, Chief Economist at CMHC’s …
  
• Bank of Canada Announces Recipients of 2009 Fellowship and Governor's Awards
  OTTAWA, Ontario, March 18, 2009 — The Bank of Canada today announced that Professor David Andolfatto of Simon Fraser University is the recipient of the Bank's Research Fellowship for 2009. Professor Andolfatto is known for his work on business cycle theory, labour market policy, and the theory of money and banking. His current research focuses on bank sector stability and policies …
  
• New Lowest Rate for 5-Year Mortgage Term Hits Canadian Market Today
  CALGARY, Alberta, March 20, 2009 — It is an unprecedented time in Canadian history as the 5-year mortgage term hits an all time low for consumers making it the perfect time to borrow money. "You often hear that the best time to borrow money is when it's cheap, but lenders were not counting on it being this cheap," says Anthony De Almeida, President and CEO of Canada's #1 Mortgage Website, …
  
• CMHC Launches Campaign to Help Homeowners
  OTTAWA, Ontario, March 26, 2009 — Today, the Canada Mortgage and Housing Corporation (CMHC) launched a consumer outreach campaign to help borrowers understand the importance of working with lenders to find manageable solutions if they are facing financial difficulties in repaying their mortgage loans. “CMHC has a long tradition of offering mortgage default management tools to …