The Canadian Press

1992-02-03 | MacKay downpayments

Preview Clip

In an effort to spur the housing industry, the federal government cut the minimum down payment for a CMHC insured mortgage to five from 10 per cent. Housing Minister Elmer MacKay said he hoped it would encourage people to buy.

Date: 1992-02-03
Placeline: WINNIPEG, Manitoba.
Source: The Canadian Press
Length: 24 seconds

Transcript Prediction: << I'm optimistic that it will be a helpful beginning you know people Canadians are still alive in a very cautious frame of mind when it comes to purchasing large ticket items but housing is so basic to all of our needs the preps this will give them a feeling that done now is the time to take advantage of what appears to be your favorite >>