Housing Starts November CMHC

FOR IMMEDIATE RELEASE
CMHC SAYS NEW HOME STARTS INCREASE IN HAMILTON
TORONTO, December 8, 2010 – Preliminary data released today by CMHC show that there
were 272 new home starts last month in the Hamilton Census Metropolitan Area (CMA). More starts
of single-detached homes, townhouses and apartments in Burlington boosted total starts and offset
the lower-than-average number of monthly starts in the City of Hamilton. There was an almost
equal split between starts in Burlington and the City of Hamilton and just nine starts in Grimsby.
Single-detached homes accounted for exactly half of all new home starts last month, and
apartments and townhouses made up the vast majority of the remaining starts. There were 65
apartments started during the month in Burlington, contributing to the total of 630 for the year so far.
The majority of the apartment starts this year have been condominium apartments, all of which
were in Burlington.
“There were more new home starts in Burlington than average for this year” said Sarah Fong,
CMHC’s Senior Market Analyst for Hamilton. “The starts in Burlington have primarily consisted of townhouses and apartments.” added Fong. …/2
-2-
As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help
Canadians access a variety of quality, environmentally sustainable, and affordable homes ---homes that will continue to create vibrant and healthy communities and cities across the country.
.
- 30 -
Aussi disponible en français.
For additional information please contact/Pour obtenir de plus amples renseignements,
veuillez communiquer avec :
Hamilton CMA: Sarah Fong, (416) 250-3294 or sfong@cmhc.ca
En français: David Lan, (519) 873-2426 ou dlan@schl.ca
Ontario: Ted Tsiakopoulos, (416) 218-3407 or ttsiakop@cmhc.ca
Canada: Charles Sauriol, (613) 748-2799 or (613) 816-5978 or csauriol@cmhc.ca
Housing Starts November 2010

Note - Graphs not included in this post as they did not replicate properly.

Bank of Canada holds overnight rate - Next scheduled date January 18th, 2011 - Merry Christmas Canada

FOR IMMEDIATE RELEASE
7 December 2010 CONTACT: Jeremy Harrison
613 782-8782

--------------------------------------------------------------------------------

Bank of Canada maintains overnight rate target at 1 per cent
OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The global economic recovery is proceeding largely as expected, although risks have increased. As anticipated, private domestic demand in the United States is picking up slowly, while growth in emerging-market economies has begun to ease to a more sustainable, but still robust, pace. In Europe, recent data have been consistent with a modest recovery. At the same time, there is an increased risk that sovereign debt concerns in several countries could trigger renewed strains in global financial markets.

The recovery in Canada is proceeding at a moderate pace, although economic activity in the second half of 2010 appears slightly weaker than the Bank projected in its October Monetary Policy Report. In the third quarter, household spending was stronger than the Bank had anticipated and growth in business investment was robust. However, net exports were weaker than projected and continued to exert a significant drag on growth. This underlines a previously-identified risk that a combination of disappointing productivity performance and persistent strength in the Canadian dollar could dampen the expected recovery of net exports.

Inflation dynamics in Canada have been broadly in line with the Bank's expectations and the underlying pressures affecting prices remain largely unchanged.

Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the 2 per cent inflation target in an environment of significant excess supply in Canada. Any further reduction in monetary policy stimulus would need to be carefully considered.

Information note:

The next scheduled date for announcing the overnight rate target is 18 January 2011. A full update of the Bank’s outlook for the economy and inflation, including risks to the projection, will be published in the Monetary Policy Report on 19 January 2011.

MortgageBOSS V2 - One entry technology - AMAZING TOOL

For immediate release - December 3rd
Mortgage Alliance/MPH launches the newest version of the
industry’s most comprehensive technology specifically for
mortgage broker originators.
MortgageBOSS™!! (Broker Origination Software Solution)
This week marks the launch of the most comprehensive proprietary broker software
system in the mortgage broker industry. MortgageBOSS was commissioned by
Mortgage Alliance three years ago and based on the experiences of hundreds of users,
months of development and feedback from the broker network MortgageBOSS™V2 has
launched today.
“As Canada’s most respected network of independent mortgage professionals, we’re
committed to providing our team with a quality brand, unique resources and technology
that helps them grow their business and their income”, said Michael Beckette, President
& C.E.O. of Mortgage Alliance.
“The challenge for us was integrating front middle and back. Whether it’s the personal
organizer that syncs with your PDA to the integrated email client in the front or the
Online and Offline Mortgage Application with Lender Logic conjoined with full CRM,
reporting, expense management and payroll we maintained the highest design
standards. We listened and built around the broker’s workflow and we employed
Mortgage Alliance Professionals from across the country who were directly involved in
the design and beta testing of the new MortgageBOSS V2 system”, he went on to say.
Today’s MortgageBOSS™ users only need to go to one place to find whatever they need,
whether that’s rates and lender information, applications, calculators, real time deal
statuses, documentation from past files of planning for future commissions it’s really the
one stop shop.
The company invested millions to develop the new system because we believe flexible
and scalable work flow technology for brokers like a recognized consumer brand will
support the continued development of the broker originator as a respected professional
intermediary.
For more information please contact Louie Bettio lbettio@mortgagealliance.com or by
phone at 416-499-5454.