Canadian Mortgage News

July 2003 National Archive

Mortgage News & Press Releases - July 2003

• Eight Affordable Housing Pilot Projects Approved in Waterloo Region
  KITCHENER, Ontario, July 3, 2003 — The Government of Canada and the Government of Ontario today allocated more than $4.1 million to help fund eight pilot projects that will create 287 units of affordable housing for low-income people in the Region of Waterloo, announced the Honourable Steven Mahoney, Secretary of State responsible for Canada Mortgage and Housing Corporation and Ontario's …
  
• $6.4 Million in Funding for New Affordable Housing in Regina
  REGINA, Saskatchewan, July 3, 2003 — The federal and provincial governments today announced funding details on the first of six projects to be built in Regina under the Canada-Saskatchewan Affordable Housing Agreement. A total of $6.4 million will be allocated to the six projects, worth $19 million.
  
• Construction Begins on New Youth Shelter
  CAMBRIDGE, Ontario, July 3, 2003 - The Argus Residence for Young People, an emergency and transitional shelter for homeless youth between the ages of 15-24, celebrated the start of construction on a 10-bed shelter with an official ground breaking ceremony today.
  
• Government Announces Additional Assistance for Housing Co-operatives with Moisture Damage
  VANCOUVER, British Columbia, July 8, 2003 — The Honourable Steven Mahoney, Secretary of State responsible for Canada Mortgage and Housing Corporation (CMHC) announced today new measures to assist housing co-operatives in B.C. that are facing high repair costs to address moisture problems with their buildings. The package includes a more integrated, flexible approach and enhancements to …
  
• New Shelter Opens for Homeless Families
  LINDSAY, Ontario, July 8, 2003 — A Place Called Home Residence celebrated its official opening today in Lindsay, Ontario. A Place Called Home is an 11-bed emergency shelter and transitional housing facility for homeless families and the disabled.
  
• New Housing Co-Op Helps Revitalize Neighbourhood
  VANCOUVER, British Columbia, July 8, 2003 — Families with low to moderate incomes will benefit from new affordable housing close to downtown Vancouver and False Creek with the official opening of the City Gate Housing Co-operative by the Honourable Steven Mahoney, Secretary of State responsible for Canada Mortgage and Housing Corporation, and George Abbott, Minister for Community, …
  
• New Affordable Housing Opens in Riverside Meadows
  RED DEER, Alberta, July 9, 2003 — The doors to 39 new affordable rental units in Riverside Meadows officially open today as result of a funding partnership between federal and provincial governments, and a local private company.
  
• Housing Starts Rise in June
  OTTAWA, Ontario, July 9, 2003 — The seasonally adjusted annual rate1 of housing starts was 210,400 in June, up from a revised2 198,000 in May, signalling that residential construction continues at a strong pace, reports Canada Mortgage and Housing Corporation (CMHC).
  
• First Homes To Be Built Under New Affordable Housing Initiative
  WINNIPEG, Manitoba, July 14, 2003 — Winnipeg residents will soon have access to more safe and affordable housing with the construction of 14 homes in the Spence, William Whyte and North Point Douglas neighbourhoods. The projects are made possible with the help of up to $760,000 in funding from the Government of Canada, the Province of Manitoba and the City of …
  
• CMHC Reduces Homeowner Mortgage Insurance Premiums
  OTTAWA, Ontario, July 14, 2003 — Canada Mortgage and Housing Corporation (CMHC) is making homeownership more affordable through a 15 per cent reduction in homeowner premiums for mortgage loan insurance, effective today.
  
• Bank of Canada lowers target for the overnight rate by 1/4 percentage point to 3 per cent
  OTTAWA, Ontario, 15 July 2003 — The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 3 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 1/4 per cent.
  
• Bank of Canada releases Monetary Policy Report Update
  OTTAWA, Ontario, 17 July 2003 — The Bank of Canada today released its Update to the April Monetary Policy Report. The Update reviews economic and financial trends in the context of Canada's inflation-control strategy.
  
• Partnership Opens New Multicultural Family Housing in Surrey
  SURREY, British Columbia, July 23, 2003 - Low- to moderate-income families now have greater access to secure affordable housing with the opening of Salamat Housing, a new development serving multicultural families in Surrey.
  
• Bank of Canada releases 2004 schedule of dates for its policy interest rate announcements
  OTTAWA, Ontario, 24 July 2003 — The Bank of Canada today released its 2004 schedule of eight dates for announcing decisions on its key policy interest rate, and confirmed the announcement dates for the remainder of this year.