Canadian Mortgage News

December 2004 National Archive

Mortgage News & Press Releases - December 2004

• Mortgage Intelligence introduces Canada's first 'no doc'* mortgage
  Mississauga, Ontario (December 1, 2004) – Potential homebuyers can forget about paperwork when it comes to securing a mortgage, thanks to a new product introduced by Mortgage Intelligence.
  
• Five-Year Fixed Mortgage Rates Fall to 30-Week Low Ahead of Bank of Canada Announcement
  Toronto, December 2, 2004 – While next week's Bank of Canada rate announcement may impact homeowners with variable rate mortgages, those in the market for a new mortgage can take comfort in the fact "fixed mortgage rates" are edging lower. According to Invis, fixed rates have fallen below the five per cent threshold for the first time since May …
  
• Canada-B.C. Affordable Housing Agreement — Phase II
  VANCOUVER, British Columbia, December 3, 2004 — The Government of Canada and the Province of British Columbia are allocating $84 million towards transitional housing and a range of supports to help communities tackle the challenges of homelessness, mental illness and drug addiction.
  
• Minister Fontana Releases Details of New Affordable Housing Flexibilities and Announces National Consultation on Housing
  OTTAWA, Ontario, December 3, 2004 — Minister of Labour and Housing Joe Fontana today announced the details of the flexibilities he delivered to the provincial and territorial ministers responsible for housing, during their Federal-Provincial-Territorial meeting on Tuesday, in Gatineau, Quebec.
  
• CMHC and Habitat for Humanity hold Third Annual Gingerbread House Design Competition
  OTTAWA, Ontario, December 3, 2004 — The third annual Gingerbread House Competition will be held December 3, 4, and 5 at Canada Mortgage and Housing Corporation's (CMHC) Montreal Road Offices. The MP for Ottawa-Vanier, the Honourable Mauril Bélanger, will attend the closing ceremony December 5 and present the winners their awards around 2.00 …
  
• Groundbreaking held for Bloomingdale Mews
  KITCHENER, Ontario, December 3, 2004 — The Government of Canada, the Government of Ontario, and the Region of Waterloo today celebrated the official groundbreaking for Bloomingdale Mews.
  
• Sod Turning — 30 New Affordable Housing Units in Terrebonne
  TERREBONNE, Québec, December 6, 2004 — Low- and moderate-income families and individuals will soon have more affordable housing options thanks to the construction of 30 new housing units at 477 Chartrand St., in Terrebonne.
  
• Bank of Canada keeps target for the overnight rate at 2 1/2 per cent
  OTTAWA, Ontario, December 7, 2004 —The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 1/2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 3/4 per cent.
  
• New Beginnings for Canada's First Shelter for Abused Women
  TORONTO, Ontario, December 7, 2004 — In a ribbon-cutting ceremony today, Interval House of Toronto, Canada's first shelter for abused women and their children, officially opened their newly renovated building.
  
• Housing Starts Bounce Back in November
  OTTAWA, Ontario, December 8, 2004 — The seasonally adjusted annual rate1 of housing starts was 238,200 in November, up from 225,000 in October, according to Canada Mortgage and Housing Corporation (CMHC).
  
• New Shelter and Healing Centre for Assaulted Women Marks Official Opening
  TORONTO, Ontario, December 13, 2004 — Dignitaries, staff, volunteers and members of the local community today helped cut the ribbon of hope as Emily Stowe Shelter for Women officially opened the newly constructed 30-bed facility in Scarborough. The shelter's new home was made possible through the continued efforts of the shelter, the Government of Canada, Government of Ontario, and City of …
  
• Gingerbread House Building Competition Raises Funds for Shelters
  TORONTO, Ontario, December 14, 2004 — Toronto-area media celebrities participated in Canada Mortgage and Housing Corporation's (CMHC's) Second Annual "Building Housing Dreams" gingerbread house competition today. The event was held to raise funds and awareness for shelters in the Greater Toronto Area.
  
• Angels in the Night Deliver Truckloads of Supplies to Homeless
  Toronto, December 14, 2004 – Starting today and throughout the evening, hundreds of volunteers from communities across seven Canadian cities will take to the streets to distribute $140,000 in new clothing and supplies to more than 50 homeless shelters and charities as part of the Angels in the Night volunteer program.
  
• Minister Fontana Proposes Appointment to CMHC Board
  OTTAWA, Ontario, December 16, 2004 – Minister of Labour and Housing Joe Fontana today announced the proposed appointment of Dino Chiesa, as Chairman of the Board of Canada Mortgage and Housing Corporation. The proposed appointment will be referred to the Standing Committee on Government Operations and Estimates for review.
  
• Area Emergency Shelter Gets Ultimate Makeover
  COBOURG, Ontario, December 20, 2004 — The only emergency shelter in Cobourg re-opened today after months of renovations. A ribbon-cutting ceremony unveiled the new and improved Transition House, a 22-bed facility that supports single parents, including fathers, who are in need of emergency shelter.
  
• Average Rental Vacancy Rate Rose to 2.7 Per Cent
  OTTAWA, Ontario, December 21, 2004 — The average rental apartment vacancy rate in Canada's 28 major centres1 rose to 2.7 per cent in October 2004 from 2.2 per cent a year ago, according to the Rental Market Survey released today by Canada Mortgage and Housing Corporation (CMHC). This is the third consecutive annual increase in the vacancy rate, but it remains below the 3.3 per cent average …
  
• Consultations on a Canadian Housing Framework to begin in January 2005
  OTTAWA, Ontario, December 21, 2004 — The Honourable Joe Fontana, Minister of Labour and Housing, today announced the schedule of consultations to assist in developing a Canadian Housing Framework. These consultations are part of a long-term partnership-based housing framework.