The Canadian Gov't announced today that they will, via their CMHC crown corporation, purchase up to $7billion of insured mortgage-based securities maturing in 2013.
The gov't purchased their first round of mortgages worth $5billion last Thursday.
This is forming part of the Cdn gov't $25billion plan to help banks weather the credit crisis and free up cash for lending.
Gina Burgio, Mortgage Agent
VERICO Designer Mortgages Inc.
Toll Free: 1-877-345-6265
Fax: 1-877-345-6256
Email: gina@ginaburgio.com
www.ginaburgio.com
Each VERICO Broker is an independent owner operator.
Tuesday, October 21, 2008
Cdn Gov't to Purchase up to $7.0 Billion of Mortgages
Labels:
canada,
cmhc,
credit,
debt,
home,
homes,
interest rates,
loan,
loans,
mortgage,
mortgage broker,
mortgage rates,
mortgages,
purchase,
refinance
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