Canadian Mortgage News

March 2003 National Archive

Mortgage News & Press Releases - March 2003

• Bank of Canada raises overnight rate target by 1/4 percentage point to 3 per cent
  OTTAWA, Ontario, 4 March 2003 — The Bank of Canada today announced that it is raising 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 increased, and the Bank Rate is now 3 1/4 per cent.
  
• Housing Starts Up 34.5 Per Cent in February
  OTTAWA, Ontario, March 10, 2003 — The seasonally adjusted annual rate1 of housing starts in Canada in February was 246,400 units which is 34.5 per cent higher than the January 2003 revised2 rate of 183,200 units.
  
• Minister Collenette Announces CMHC's Housing Affordability Grant Recipients
  OTTAWA, Ontario, March 11, 2003 — The Honourable David Collenette, Minister of Transport and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), announced today 10 grants, totalling $110,000 and worth up to $20,000 each, have been awarded under CMHC's Affordability and Choice Today (ACT) Program.
  
• CMHC Develops Online Guide to Renting a Home
  OTTAWA, Ontario, March 12, 2003 — A new comprehensive rental guide, developed by Canada Mortgage and Housing Corporation (CMHC), will help the estimated four million Canadian households in rental accommodation as well as landlords and property managers find plain language information on tenant and landlord rights and responsibilities and rental practices across the …
  
• Minister Collenette Announces CMHC Housing Research Grants
  OTTAWA, Ontario, March 13, 2003 — The Honourable David Collenette, Minister of Transport and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), announced today 21 Canadian researchers, will be awarded up to $25,000 each under CMHC's, External Research Program (ERP).
  
• Financing recreational properties easier with Mortgage Intelligence’s i relax
  Mississauga, Ontario (March 28, 2003) – Mortgage Intelligence Inc., Canada’s largest mortgage broker, is eliminating some of the financial obstacles to second home ownership with the irelax mortgage.
  
• New Report Released on the State of Canada's Housing
  OTTAWA, Ontario, March 31, 2003 — Canada Mortgage and Housing Corporation (CMHC) today released a new flagship publication, the 2003 Canadian Housing Observer, which provides a comprehensive overview of Canadian housing conditions and trends and the key factors behind them.