YOUR CANADIAN MORTGAGE BROKER

January 25, 2010

CMHC Helps to Improve Housing Affordability and Choice

OTTAWA, January 25, 2010 — Canada Mortgage and Housing Corporation (CMHC) today announced 22 new grants to improve housing affordability for Canadians. The grants, totalling $99,700, are being awarded under CMHC’s Affordability and Choice Today (ACT) Initiative.

“CMHC is pleased to support the many municipalities, home builders and non-profit housing providers working to develop local housing solutions that will benefit the economy and revitalize communities across the country,” said Douglas Stewart, Vice President, Policy and Planning of CMHC.

In operation since 1990, ACT provides grants of up to $5,000 to teams of municipalities and private or non-profit home builders who promote the improvement of planning and building regulations in their communities to make housing more affordable and responsive to local needs. ACT also offers a wealth of proven best practices and lessons learned so that communities can benefit from the innovations of others.

Please click HERE for the complete article.


BREAKING NEWS

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March 8, 2010

There are two very important topics CMHC and Government of Canada has made public:

1. New Parameters Regarding the Application of the Government Guarantee for Mortgage Loan Insurance.

2. Clarification on Qualifying Interest Rate Policy Changes to CMHC Self-Employed Product.

March 2, 2010

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent.
The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.

The ongoing global economic recovery is being driven largely by strong domestic demand growth in many emerging-market economies and supported in advanced economies by exceptional monetary and fiscal stimulus, as well as extraordinary measures taken to support financial systems.

February 17, 2010
As many of you are aware already, a news conference was  held  yesterday morning in Ottawa by the Federal Finance Minister Jim Flaherty.  He announced three major changes to mortgage insurance rules which will affect all government backed insurance programs.
February 10, 2010
A ‘reverse mortgage’ is a new way of borrowing money for people 60 or older and own a home or condo to qualify for a reverse mortgage in Canada. The flexibility of never having to make monthly payments is why reverse mortgages are such an attractive option for thousands of Canadian homeowners.

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