Archive for June, 2009

Canadian Funding Corp Announces 3 More Auctions In Mortgage-Buying Program

June 30, 2009admin Comments Off

Canada Mortgage and Housing Corp. will buy more mortgage-backed securities from financial institutions on July 15, Aug. 24 and Sept. 21 as part of a Canadian government program to ease credit conditions.
Canada’s housing agency said Thursday that, of the C$125 billion in purchases authorized by Canada’s minister of finance, C$58.8 billion have been completed to [...]

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Supported Housing for Women Promoted by Canadian Funding Corp

June 30, 2009admin Comments Off

Canadian Funding Corporation comes to realize that participant feedback and a decentralized approach lead to better support.
Though there are a variety of shelters and supportive housing arrangements in the Halifax Regional Municipality, women who are recovering from addictions, dealing with mental-health issues, fleeing abusive situations or who are in potential conflict with the law can [...]

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Boring But Effective

June 29, 2009admin Comments Off

That’s how a recent IMF paper characterized Canada’s mortgage market.
Among other things, it compared Canadian and American mortgages and listed several key differences.  Here are the big ones:

US mortgages typically don’t have pre-payment penalties.  Canadian mortgages usually do (except for “opens,” which are more expensive).
Canadian mortgages are portable. Portability is rare in the US.
US mortgages [...]

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