Canadian Mortgage News

October 2003 National Archive

Mortgage News & Press Releases - October 2003

• Groundbreaking Launches Affordable Housing Project in Manchester
  CALGARY, Alberta, October 2, 2003- A groundbreaking ceremony held today on the former Manchester School site signaled the start of construction of two new affordable housing buildings - for a total of 202 units for low-income singles, couples and seniors.
  
• 33 New Housing Units for Seniors in La Tuque
  LA TUQUE, Quebéc, October 3, 2003 - On behalf of Minister of Municipal Affairs, Sports and Recreation Jean-Marc Fournier, Ms Julie Boulet, Minister of Transport and member for Laviolette, dedicated the new Le Renaissance housing project in La Tuque in the presence of local mayor and Corporation Le Renaissance board chairman Gaston Fortin. The new building features 33 new housing units for …
  
• Longer Term Mortgages Becoming More Attractive
  OTTAWA, Ontario, October 7, 2003 — The cost advantage of variable rate and short-term fixed rate mortgages relative to long-term mortgages has disappeared in the last few years, according to the latest issue of Canada Mortgage and Housing Corporation's (CMHC) Mortgage Market Trends. The report notes that this trend combined with the stability of payment and the peace of mind they offer to …
  
• Robust Home Construction in September
  OTTAWA, Ontario, October 8, 2003 — The seasonally adjusted annual rate1 of housing starts declined to 234,600 in September from 237,200 in August, reports Canada Mortgage and Housing Corporation (CMHC).
  
• Bank of Canada keeps target for the overnight rate at 2 3/4 per cent
  OTTAWA, Ontario, 15 October 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.
  
• New Subsidized Housing for At-Risk Homeless
  NEW WESTMINSTER, British Columbia, October 15, 2003 — A heritage building in the heart of New Westminster has been given new life as a housing development for individuals at risk of homelessness. The Cliff Block building at Sixth St. and Clarkson has been restored to provide 23 units of subsidized housing and support services for some of the city's most marginalized and vulnerable …
  
• Ingamo Family Homes Celebrates Opening After Major Renovations
  WOODSTOCK, Ontario, October 15, 2003 — Victims of violence have a place to turn to in times of need thanks to funding from the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), and Ingamo Family Homes of Woodstock. The newly renovated 21-townhouse Ingamo housing project was officially opened today by John Baird Finlay, M.P., Member of Parliament for …
  
• Hamilton Housing Market to Remain Strong in 2004
  HAMILTON, Ontario, October 16, 2003 — The Hamilton housing industry received a preview for the 2004 housing market from Canada Mortgage and Housing Corporation's top market analysts and economists at the Housing Outlook Conference today. Local industry professionals heard that Hamilton is expected to generate over 3,000 new housing starts for 2004. CMHC predicts Hamilton is on the way to …
  
• Transport Minister Announces Appointment to the Board of the Canada Mortgage and Housing Corporation
  OTTAWA, Ontario, October 16, 2003 — Transport Minister and Minister responsible for the Canada Mortgage and Housing Corporation (CMHC), David Collenette, today announced the appointment of Roberta Hayes of Moncton, New Brunswick to the corporation's board of directors.
  
• Apartment Units Being Built Under Canada-Manitoba Affordable Housing Initiative will Benefit Brandon
  BRANDON, Manitoba, October 17, 2003 - Brandon area residents will soon have access to more safe and affordable housing when 36 units of housing are completed. The projects are made possible with more than $533,000 in funding from the Canada-Manitoba Affordable Housing Initiative.
  
• Brooks Receives Government Funding For New Affordable Housing Project
  EDMONTON, Alberta, October 21, 2003 - The Brooks Housing Society will receive $1.95 million under the Canada-Alberta Affordable Housing Program to build a 39-unit affordable housing complex for low to moderate income families. The announcement was made today by the Honourable Steven Mahoney, Secretary of State responsible for Canada Mortgage and Housing Corporation and Honourable Stan Woloshyn, …
  
• Bank of Canada releases Monetary Policy Report
  OTTAWA, Ontario, 22 October 2003 — Since the April Monetary Policy Report, the Canadian economy has been hit by a number of unusual shocks: SARS, BSE, the Ontario electricity blackout, and the severe forest fires in British Columbia. Inflation has also fallen faster and further than expected. This drop in core inflation reflected several unforeseen developments. These include a broad-based …
  
• Converted Motel Becomes Affordable Housing
  VICTORIA, British Columbia, October 23, 2003 - Victoria`s lower-income residents will benefit from new affordable housing with the official opening of Cedar Grove Apartments, a former motel converted into 21 residential units. The project combines contributions from the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC) and the Victoria Community Housing Trust, a …
  
• Mahoney Announces Seed Funding for Housing Projects (Calgary)
  CALGARY, Alberta, October 23, 2003 — Twenty-eight housing organizations and developers from the Prairie provinces will receive up to $20,000 each to help develop housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• Mahoney Announces Seed Funding for Housing Projects [Halifax]
  HALIFAX, Nova Scotia, October 23, 2003 — Twenty-seven housing organizations and developers from the Atlantic region will receive up to $20,000 each to help develop housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• Mahoney Announces Seed Funding for Housing Projects [Québec]
  MONTRÉAL, Québec, October 23, 2003 — Twenty-eight housing organizations and developers from Quebec will receive up to $20,000 each to help develop housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• Mahoney Announces Seed Funding for Housing Projects [Toronto]
  TORONTO, Ontario, October 23, 2003 — A total of 110 housing organizations and developers in Ontario will receive up to $20,000 each to help develop housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• Mahoney Announces Seed Funding for Housing Projects [Vancouver]
  VANCOUVER, British Columbia, October 23, 2003 — Forty-seven housing organizations and developers from B.C. and Yukon will receive up to $20,000 each to help develop housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• Samakhi Housing Cooperative
  MONTRÉAL, Québec, October 25, 2003 — Yvon Charbonneau, Member of Parliament for Anjou — Rivière-des-Prairies, representing the Honourable Steven Mahoney, Secretary of State responsible for Canada Mortgage and Housing Corporation, and Tony Tomassi, Member of the National Assembly for LaFontaine, on behalf of Jean-Marc Fournier, Minister of Municipal Affairs, …
  
• Apartment Units in Thompson Being Renovated with Funding Assistance from the Federal and Provincial Governments
  THOMPSON, Manitona, October 30, 2003 - Thompson residents will have access to more safe and affordable housing when 36 apartment units are fully renovated and upgraded with $756,000 in funding assistance from the governments of Canada and Manitoba.
  
• New Housing for Families of Aundeck Omni Kaning First Nation
  MANITOULIN ISLAND, Ontario, October 31, 2003 — The Aundeck Omni Kaning First Nation today celebrated the official opening of seven new bungalows built to meet the housing needs of families.