Canadian Mortgage News

March 2005 National Archive

Mortgage News & Press Releases - March 2005

• Bank of Canada keeps target for the overnight rate at 2 1/2 per cent
  OTTAWA, Ontario, March 1, 2005 — 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.
  
• Over Half a Million Households in Six Major Centres Intend to Buy a Home in 2005
  OTTAWA, Ontario, March 7, 2005 — Over 570,000 households in Halifax, Montréal, Ottawa1, Toronto, Calgary and Vancouver, are thinking of buying a home this year, according to the Consumer Intentions to Buy or Renovate a Home survey from Canada Mortgage and Housing Corporation (CMHC). This represents an average of 12 per cent of all households in those …
  
• Residential Construction Rebounds in February
  OTTAWA, Ontario, March 8, 2005 — The seasonally adjusted annual rate1 of housing starts was 214,900 in February, up 5.3 per cent from 204,000 in January, according to Canada Mortgage and Housing Corporation (CMHC).
  
• CRHBA Names Finalists for 2004 SAM Awards
  CALGARY, Alberta, March 9, 2005 - The Calgary Region Home Builders' Association (CRHBA) is pleased to announce the finalists for the 2004 SAM Awards.
  
• New Assisted Living Units to Benefit Seniors
  PORT ALBERNI, British Columbia, March 14, 2005 — Lower-income seniors in need of affordable housing and care in Port Alberni will benefit from the development of 20 new assisted-living units announced today. BC Housing and the Vancouver Island Health Authority have invited the Alberni-Clayoquot Continuing Care Society to develop a detailed proposal for an assisted-living …
  
• 22 Affordable Housing Proposals in the Atlantic provinces Get Early Stage Funding
  HALIFAX, Nova Scotia, March 15, 2005 — A total of 22 community-based organizations and developers in the Atlantic provinces will receive up to $20,000 each to develop affordable housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• 32 Affordable Housing Proposals in British Columbia and Yukon Get Early Stage Funding
  VANCOUVER, British Columbia, March 15, 2005 — A total of 32 community-based organizations and developers in British Columbia and Yukon will receive up to $20,000 each to develop affordable housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• 35 Affordable Housing Proposals in the Prairie Provinces Get Early Stage Funding
  CALGARY, Alberta, March 15, 2005 — A total of 35 community-based organizations and developers in the Prairie provinces will receive up to $20,000 each to develop affordable housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• 40 Affordable Housing Proposals in Quebec Get Early Stage Funding
  MONTRÉAL, Québec, March 15, 2005 — A total of 40 community-based organizations and developers in Quebec will receive up to $20,000 each to develop affordable housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• 75 Affordable Housing Proposals in Ontario Get Early Stage Funding
  LONDON, Ontario, March 15, 2005 — A total of 75 community-based organizations and developers in Ontario will receive up to $20,000 each to develop affordable housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• Housing Minister Announces Seed Funding Recipients [British Columbia]
  VANCOUVER, British Columbia, March 15, 2005 — A total of 32 community-based organizations and developers in British Columbia and Yukon will receive up to $20,000 each to develop affordable housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• Housing Minister Announces Seed Funding Recipients [Ontario]
  LONDON, Ontario, March 15, 2005 — A total of 75 community-based organizations and developers in Ontario will receive up to $20,000 each to develop affordable housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• Housing Minister Announces Seed Funding Recipients [Québec]
  MONTRÉAL, Québec, March 15, 2005 — A total of 40 community-based organizations and developers in Quebec will receive up to $20,000 each to develop affordable housing project proposals under Canada Mortgage and Housing Corporation's (CMHC) Seed Funding initiative.
  
• $2.1 Million Allocated for Affordable Housing in Welland and Thorold
  WELLAND, Ontario, March 16, 2005 — The Government of Canada and the Government of Ontario today allocated more than $2.1 million to help fund three pilot projects that will create 79 units of affordable housing for lower-income households in the City of Welland and the City of Thorold as part of $4.7 million allocated to Niagara Region under the Canada/Ontario Affordable Housing …
  
• Opening New Doors to Affordable Housing — 202 New Units in Manchester
  CALGARY, Alberta, March 17, 2005 — A special ceremony held today marked the grand opening 202 new affordable housing units for low-income singles, couples, and seniors in Calgary's southwest community of Manchester.
  
• First Campus of Care Opens in Vancouver
  VANCOUVER, British Columbia, March 17, 2005 — Vancouver's first campus of care officially opened today with 36 assisted living units targeted to seniors who are in need of affordable housing and support services.
  
• 12 New Social and Community Housing Units in Howick and Sainte-Martine
  HOWICK, Québec, March 21, 2005 — Low-income families now have more affordable housing options thanks to the renovation and construction of 12 units, in Howick and Sainte-Martine. These two projects of Les Habitations de la Vallée des Tisserands, which required investments of more than $930,000, were developed thanks to the participation of public, private, and community …
  
• 26 New Social and Community Housing Units in Saint-Constant
  SAINT-CONSTANT, Québec, March 21, 2005 — Low-income families now have more affordable housing options thanks to the construction of 26 new units in Saint-Constant. Les Habitations Logis-Ciel, which required investments of more than $2.7M, were developed thanks to the participation of public, private, and community partners.
  
• Families celebrate move from shelters
  TORONTO, Ontario, March 21, 2005 — Twenty-four families celebrated the official opening of their home community today at the Trellis Gardens apartment building in the west end of the city — one of Toronto's first housing projects under the Let's Build program.
  
• Federal Housing Minister Fontana Announces New Option for Affordable Housing
  TORONTO, Ontario, March 23, 2005 — Rent supplement programs will now be eligible for funding under the Affordable Housing Initiative, announced the Honourable Joe Fontana, Minister of Labour and Housing today. He made the announcement, accompanied by the Honourable Tony Ianno, Minister of State (Families and Caregivers), during a visit to an innovative affordable housing project in …
  
• New interest-only mortgage from Mortgage Intelligence gives home buyers freedom to make financial choices
  MISSISSAUGA, Ontario, March 23, 2005 – Home buyers in Canada will now have the ability to increase their cash flow while reducing monthly mortgage payments through i decide -- the country’s first institutional interest-only mortgage product.
  
• New Homes Benefit People with Disabilities
  NANAIMO, British Columbia, March 29, 2005 — People with permanent disabilities will benefit from a new housing development that opened today in Nanaimo's downtown core.
  
• Renovation Increases Safety of Women and Children
  MANITOULIN ISLAND, Ontario, March 29, 2005 — Women and their children at the Mindemoya women's shelter will be safer as a result of the recent renovations to the 10-bed Haven House Shelter, which opened today.
  
• National Advisory Committee to Help Canada Prepare for World Urban Forum
  OTTAWA, Ontario, March 29, 2005 — Thirty-six high-profile Canadians will participate in a National Advisory Committee to shape the direction of Canada's preparations to host the UN-HABITAT World Urban Forum in Vancouver in 2006. The Committee will be chaired by the Honourable Michael Harcourt and Ms. Huguette Labelle and will include representatives from the provinces of British Columbia …
  
• Minister Fontana Announces CMHC Chair Appointment
  OTTAWA, Ontario, March 30, 2005 — The Honourable Joe Fontana, Minister of Labour and Housing, announced today the appointment of Dino Chiesa as Chairman of the Board of Canada Mortgage and Housing Corporation. Mr. Chiesa's nomination was reviewed by the Standing Committee on Government Operations and Estimates on March 22, 2005.
  
• Province Announces More Supports for the Homeless
  SURREY, British Columbia, March 30, 2005 — Six B.C. communities will benefit from eight new transitional housing developments to help people break free from the cycle of homelessness, Senator Jack Austin, on behalf of the Honourable Joe Fontana, Minister of State for Labour and Housing,and Murray Coell, Minister of Community Aboriginal and Women's Services and announced …
  
• Canada Participating in the 20th Session of the UN-Habitat Governing Council
  OTTAWA, Ontario, March 31, 2005 — The Honourable Joe Fontana, Minister of Labour and Housing will lead the Canadian Delegation to the 20th Session of the United Nations Human Settlements Programme (UN-HABITAT) Governing Council. He will be bringing Canada's views on urban issues to the Council, which will take place in Nairobi, Kenya, from April 4th to 8th, …
  
• WHHI Funds Affordable Housing/Commercial Arts Project
  WINNIPEG, Manitoba, March 31, 2005 — A vacant heritage building in the downtown Civic Centre district will soon be converted into a residential and commercial centre containing eight affordable housing units for low-to-moderate income people, as well as studio art space.