Canadian Housing News
Healthy first half for new home sales
There were 3,544 new homes and condominiums sold across the Greater Toronto Area in June, 2008, bringing total new home sales for the first half of 2008 up to 17,094 units, Michael Moldenhauer, President of the Building Industry & Land Development Association (BILD), revealed today. While new home sales in June were very much in line with average June sales over the last five years, they couldn't withstand comparisons with June, 2007, which set the all-time record for monthly new home sales....
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Scotiabank Changes Mortgage Offering
Scotiabank today announced changes to the Bank's mortgage products in response to the Department of Finance's recent announcement with regard to the changes in government guarantees for mortgages. Effective immediately, the maximum amortization period will be reduced to 35 years, and a five-per-cent minimum requirement for down payments will be implemented for new mortgage financing.
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National Bank Financial Group Adjusts the Maximum Amortization of its Mortgage Loans
MONTREAL, QUEBEC--(Marketwire - July 21, 2008) - National Bank Financial Group has announced that it is reducing the maximum amortization on new mortgage loans to 35 years effective immediately.
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Mortgage Alliance/MPH of Canada acquires Meridian Financial Services Ltd.
In an economy and marketplace that has seen Mortgage icons south of the border declare insolvency and others in Canada retreating, there is one Canadian company that is growing and now has increased its Canadian market share presence with the purchase of Meridian Financial Services.
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