Canadian Mortgage News

December 2003 National Archive

Mortgage News & Press Releases - December 2003

• Bank of Canada keeps target for the overnight rate at 2 3/4 per cent
  OTTAWA, Ontario, 2 December 2003 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 3/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 3 per cent.
  
• Average Rental Vacancy Rate Rises to 2.2 Per Cent
  OTTAWA, Ontario, December 2, 2003 — The average rental apartment vacancy rate in Canada's 28 metropolitan areas1 rose to 2.2 per cent in October 2003 from 1.7 per cent a year ago, but is below the average of 3.4 per cent over the 1992 to 2002 period, according to the Rental Market Survey released by Canada Mortgage and Housing Corporation (CMHC) today. This is the second consecutive annual …
  
• Heartwood Place on Gaukel Celebrates Official Opening
  KITCHENER, Ontario, December 5, 2003 - The Government of Canada, the Government of Ontario and the Region of Waterloo today celebrated the official opening of Heartwood Place on Gaukel, a converted clothing factory designed to help meet the demand for affordable apartments in the core area of Kitchener. The project was built by non-profit organization Heartwood Place and adds 33 affordable units …
  
• Nine Apartment Buildings in St. Boniface Being Renovated with $850,000 from Affordable Housing Initiative
  WINNIPEG, Manitoba, December 5, 2003 — Low- and moderate-income residents living in St. Boniface will have access to safe, quality rental accommodations with the renovation of 100 units of affordable housing. The Place St. Boniface project is being made possible with up to $850,000 in funding assistance from the governments of Canada and Manitoba and the City of Winnipeg through the …
  
• Governor Reviews Past Adjustments and Future Trends in the Canadian Economy
  LONDON, Ontario, 8 December 2003 — Bank of Canada Governor David Dodge today reviewed the economic adjustments that Canadians made through the 1990s and talked about the adjustments that will be necessary in coming decades.
  
• November Starts Remain at High Level
  OTTAWA, Ontario, December 8, 2003 — The seasonally adjusted annual rate1 of housing starts was 213,000 in November, compared to 237,300 in October, reports Canada Mortgage and Housing Corporation (CMHC).
  
• 564 New Assisted Living Units Allocated for Seniors
  VANCOUVER, British Columbia, December 16, 2003 — Seniors will benefit from 564 new non-profit and private assisted living units in the Lower Mainland and Vancouver Island allocated under the Independent Living BC (ILBC) program. Today’s announcement, combined with the 649 units already awarded, brings the total allocation to more than 1,200 units across the province — about …