Canadian Mortgage News

October 2004 National Archive

Mortgage News & Press Releases - October 2004

• Canmore Receives Government Funding for New Affordable Housing Project
  EDMONTON, Alberta, October 1, 2004 — Mountain Haven Cooperative Homes Ltd. will receive $850,000 under the Canada-Alberta Affordable Housing Program (CAAHP) to build a 17-unit affordable housing complex for low- to moderate-income working families. The announcement was made today by the Honourable Joe Fontana, Minister of Labour and Housing, and the Honourable Stan Woloshyn, provincial …
  
• Official Opening of Le Saint-Charles Building
  BEAUCEVILLE, Québec, October 1, 2004 — The Honourable Claude Drouin, MP for Beauce, on behalf of the Honourable Joe Fontana, Minister of Labour and Housing, Dominique Vien, MNA for Bellechasse, on behalf of Jean-Marc Fournier, Minister of Municipal Affairs, Sports and Recreation, Henri Marcel Veilleux, Mayor of Beauceville, and Jean Gilbert, Chairman of the Municipal Housing Bureau, …
  
• New Affordable Homes Built in Northern Communities of Wabowden, Camperville and Duck Bay with Assistance from Federal and Provincial Governments
  WABOWDEN, Manitoba, October 1st, 2004 — The first new homes in northern Manitoba funded under the Canada-Manitoba Affordable Housing Initiative (AHI) will be built soon, the Honourable Joe Fontana, Minister of Labour and Housing, and Christine Melnick, Minister of Manitoba Family Services and Housing announced today.
  
• CMHC Enhances NHA MBS Program and Mortgage Insurance Options for Rental Properties
  OTTAWA, Ontario, October 1, 2004 - The NHA Mortgage Backed Securities Program has been expanded to include insured second mortgages for both homeowner and rental properties, Canada Mortgage and Housing Corporation (CMHC) announced.
  
• Official Opening of Habitations Saint-Stanislas
  SAINT-STANISLAS, Québec, October 4, 2004 — Senator Michel Biron, on behalf of the Honourable Joe Fontana, Minister of Labour and Housing, Jean-Pierre Soucy, MNA for Portneuf, on behalf of Jean-Marc Fournier, Minister of Municipal Affairs, Sports and Recreation, Jean-Marc Beaudoin, Pro-Mayor of Saint-Stanislas, and Serge Béland, Chair of the Réseau d'habitation …
  
• September Housing Starts Meet Expectations
  OTTAWA, Ontario, October 8, 2004 — The seasonally adjusted annual rate1 of housing starts was 231,000 units in September, down from 241,100 in August, according to Canada Mortgage and Housing Corporation (CMHC).
  
• Rejuvenated Housing Project Opens in Saskatoon
  SASKATOON, Saskatchewan, October 12, 2004 — Three renovated and rejuvenated apartment buildings featuring 36 affordable housing apartments were officially opened today in Saskatoon. Located in the inner-city neighbourhood of Pleasant Hill on 102 and 104 Avenue U South and 101 Avenue T South, the apartments have been renovated in part with funding from the Governments of Canada and …
  
• 10 Affordable Housing Projects Receive $27 Million in New Funding
  EDMONTON, Alberta, October 14, 2004 — Approximately $27.1 million in federal and provincial funds has been allocated to facilitate the development of 10 affordable housing projects that will create 622 units of affordable housing in Calgary, Camrose, Canmore, Edmonton, Hythe, Red Deer and Rocky Mountain House. This funding is allocated to projects funded under the Canada-Alberta Affordable …
  
• Apartment Units Upgraded in Neepawa With Support From Federal and Provincial Governments
  NEEPAWA, Manitoba, October 15, 2004 — An upgrading project in Neepawa at 440 Mountain View to improve apartment units for low-income households is being supported with funding of over $77,600 from the Governments of Canada and Manitoba under the Residential Rehabilitation Assistance Program (RRAP).
  
• More Affordable Housing to be Available in Brandon — An Additional 77 Units Supported
  BRANDON, Manitoba, October 15, 2004 — Brandon residents will soon benefit from the construction of eight new rental housing units and 69 more renovated units for families with moderate to lower incomes, with the support of the governments of Canada and Manitoba.
  
• Inauguration of La Bourgade de Donnacona
  DONNACONA, Québec, 15 October, 2004 — Seniors in Donnacona now have more affordable housing options since the construction of La Bourgade de Donnacona, a complex of 24 new units for less-independent seniors, thanks to an investment of $2.3 million.
  
• HLM Quartier Bel-Air in La Tuque
  LA TUQUE, Québec, October 18, 2004 — Nearly $450,000 in budget funds have just been allocated to the La Tuque Municipal Housing Bureau for the rehabilitation of six low-rent housing units occupied by families of the HLM Quartier Bel-Air in La Tuque.
  
• New Women's Shelter and Supportive Housing Opens
  PRINCE GEORGE, British Columbia, October 18, 2004 — The opening of 28 shelter beds and eight units of supportive housing for women was celebrated today in Prince George. Located at 144 George Street, the shelter will provide safe, short-term emergency shelter and supportive transitional housing for women and female youth who have been victims of abuse. The facility will also feature a …
  
• Bank of Canada raises overnight rate target by 1/4 percentage point to 2 1/2 per cent
  OTTAWA, Ontario, October 19th, 2004 — The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 2 1/2 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 2 3/4 per cent.
  
• MCAP launches Einstein automatic adjudication solution on the Marlborough Stirling Canada Omiga platform
  November 19, 2004 - Building on the success of the automatic adjudication of pre-approval mortgage applications, Ron Swift, President and CEO of MCAP Mortgage Corporation is pleased to announce the successful implementation of "Einstein" - the automated mortgage approval process that makes virtually instant approvals a reality for one of Canada's largest lenders through the mortgage broker …
  
• Affordable Housing Project Underway in Creighton
  CREIGHTON, Saskatchewan, October 20, 2004 — Construction of Bedrock Manor featuring 12 new affordable housing apartments officially began today with a sod turning ceremony in the town of Creighton.
  
• Bank of Canada releases Monetary Policy Report
  OTTAWA, Ontario, 21 October 2004 — The Bank of Canada today released its October Monetary Policy Report, which reviews economic and financial trends in the context of Canada's inflation-control strategy.
  
• Hope Haven Shelter Opens Today
  LAC LA BICHE, Alberta, October 21, 2004 — Hope Haven Shelter celebrated the official opening of its expanded 7 unit, 21-bed women's shelter today. The new facility provides access to much-needed services that will help women and their children lead more independent, active and secure lives.
  
• 25 New Housing Units for Seniors in Saint-Félicien
  SAINT-FÉLICIEN, Québec, October 22, 2004 — Seniors in Saint-Félicien will soon have more affordable housing options thanks to the construction of 25 new housing units. The expansion of the Manoir Renaissance was officially opened today.
  
• Affordable Housing Week in Peterborough
  PETERBOROUGH, Ontario, October 28, 2004 — Peterborough's second annual Housing Affordability Week is the backdrop for a breakfast meeting to be held tomorrow to discuss ideas to stimulate the development of additional affordable housing in Peterborough.
  
• Residential Construction to Ease in 2005
  OTTAWA, Ontario, October 28, 2004 — Housing starts in Canada will reach 226,800 units this year as favourable economic factors carry starts to a 17-year high, according to Canada Mortgage and Housing Corporation's (CMHC) fourth quarter, CMHC Housing Outlook, National Edition report.
  
• Extreme Makeover: Witness Canada's Largest Youth Shelter Transform
  TORONTO, Ontario, October 29, 2004 — Canada's largest shelter for homeless youth held an event to mark the start of renovations. The shelter is undergoing extensive repairs to ensure the buildings are safe and meet building codes.
  
• Affordable Housing Funding for Flood Victims in Peterborough
  PETERBOROUGH, Ontario, October 29, 2004 — The Government of Canada and the Government of Ontario today allocated up to $1 million each to create new affordable housing for lower income persons who were victims of the Peterborough flood.