CMHC Announces Expansion of CMB Program

01.08.08 - 23:44 ... source : Canadian Mortgage Insurance Company - CMHC

... OTTAWA, July 31, 2008 "" Canada Mortgage and Housing Corporation (CMHC) today announced that the Canada Mortgage Bonds (CMB) Program will be expanded to include a CMB with a 10-year maturity. "In the past year, when mortgage lending institutions across many countries have faced liquidity and funding challenges, Canada's CMB Program has provided cost-effective funding to Canadian mortgage lenders and a high-quality investment for investors," said CMHC President Karen Kinsley. "Through this enhancement, the CMB Program will continue to provide Canadians with access to affordable mortgage financing and cost-effective funding to Canadian mortgage lenders." The introduction of a CMB with a 10-year maturity will allow the program to attract a broader pool of investors. CMHC introduced the CMB Program in June 2001. The objective of the Program is to benefit homebuyers and the housing industry as a whole by improving access to lower cost m ...» Next (HTML)