Canadian Mortgage News

October 2006 National Archive

Mortgage News & Press Releases - October 2006

• Affordable Student Housing Pilot Program
  HALIFAX, Nova Scotia, October 4, 2006 — Low-income single parents attending university will have access to more affordable rental housing thanks to a student housing pilot program created under the Canada – Nova Scotia Affordable Housing agreement.
  
• CREA releases MLS® forecast
  MLS® home sales on track to set new records in 2006OTTAWA, Ontario, October 04, 2006 — Canada’s resale housing market will edge past 2005 sales statistics to set new records in 2006, according to a revised forecast prepared by The Canadian Real Estate Association (CREA).
  
• Housing Complex for Seniors Opens in Warman
  WARMAN, Saskatchewan, October 6, 2006 — Federal, provincial and community partners gathered in Warman today to celebrate the opening of the Warman Mennonite Seniors Haven, an 8-unit, independent living housing complex for low-income seniors. The complex received funding from all three levels of government totaling $400,000.
  
• Housing Starts Move Lower in September
  OTTAWA, Ontario, October 10, 2006 — The seasonally adjusted annual rate1 of housing starts was 211,300 units in September, down slightly from 216,600 units in August, according to Canada Mortgage and Housing Corporation (CMHC).
  
• Affordable Seniors Assisted Living Opens in Saanich
  SAANICH, British Columbia, October 11, 2006 — Legion Manor Victoria, a new assisted living development for seniors, celebrated its official opening today with representatives from the federal and provincial governments, Lt. Governor Iona Campagnolo, and other community partners.
  
• Places for People Celebrates Renovations to Affordable Housing in Orillia
  ORILLIA, Ontario, October 12, 2006 — Places for People unveiled renovations to three rental apartments in their first affordable housing project today in Orillia. The newly renovated units, located at 290 Mississauga Street West, will provide affordable, permanent housing for families or individuals at risk of homelessness.
  
• Camrose Celebrates Two Affordable Housing Projects
  CAMROSE, Alberta, October 13, 2006 — Today, the City of Camrose is celebrating the official opening of the $1.9 million Sparling Manor Affordable Housing project and the dedication of the $2.0 million Bethany Group Affordable Housing Complex. The projects, located on 53 Street and 52 Avenue, were built with special consideration for disabled …
  
• Opening New Affordable Housing in Dorval
  DORVAL, Quebec, October 13, 2006 — Seniors now have more affordable housing options to live independently thanks to the construction of the 76 units of the Maison Donalda-Boyer, in Dorval.
  
• New Assisted Living Homes Open for Salmon Arm Seniors
  SALMON ARM, British Columbia, October 14, 2006 — The opening of Pioneer Lodge, a new $5.3-million development that provides affordable apartments and support services for seniors, was celebrated today by federal, provincial and community funding partners at an official ceremony.
  
• Bank of Canada keeps target for the overnight rate at 4 1/4 per cent
  OTTAWA, Ontario, October 17, 2006 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 4 1/2 per cent.
  
• Consumers win as rates cool off and competition heats up in mortgage industry
  TORONTO, Ontario, October 17, 2006 — With the Bank of Canada announcing today it is maintaining its key interest rate, variable rate mortgage holders can cheer about their payments remaining unchanged. Meanwhile, the price of some fixed-rate mortgages has been inching down in recent weeks, just as new product innovations are coming to market. According to mortgage brokerage Invis, the …
  
• Bank of Canada releases Monetary Policy Report
  OTTAWA, Ontario, October 19, 2006 — The Bank of Canada today released the October Monetary Policy Report, which discusses current economic and financial trends in the context of Canada's inflation-control strategy.
  
• First Subsidized Assisted Living in West Vancouver Opens
  WEST VANCOUVER, British Columbia, October 21, 2006 — Kiwanis Manor, a new $14.7 million supportive and assisted living development, which provides 76 new affordable housing apartments for seniors, was opened today by federal, provincial and community funding partners. Kiwanis Manor is the first subsidized assisted living development in West …
  
• $5 Million Approved for New Rent Supplement Program in Edmonton
  EDMONTON, Alberta, October 24, 2006 — Three orders of government are joining forces to provide rental assistance to an estimated 400 low-income households in Edmonton. The new program is part of the City of Edmonton’s Cornerstones Plan and will receive $5 million over five years to provide rent supplements for families in urgent need of housing …
  
• Affordable Housing Targeted to Brownfield Sites
  TORONTO, Ontario, October 26, 2006 — The Government of Canada and the Government of Ontario today allocated funding for a minimum of 300 units under the Canada – Ontario Affordable Housing Program to be built specifically on cleaned up brownfield sites.
  
• Opening - 16 New Social and Community Housing Units in Cowansville
  COWANSVILLE, Quebec, October 27, 2006 — People with mental health problems or physical disabilities have more resources thanks to the construction of the 16 housing units that have been part of the Entrée Chez-Soi Brome – Missisquoi adapted residence in Cowansville, for three years now.
  
• Affordable Housing for Seniors in Chester
  CHESTER, Nova Scotia, October 27, 2006 — More than 35 seniors have moved in to new and affordable homes in the Shoreham Village seniors’ complex in Chester thanks to funding from the Canada – Nova Scotia Affordable Housing Agreement.
  
• Pre-Trades Program for Women Expands: More Classroom Capacity Plus Housing for Students
  EDMONTON, Alberta, October 27, 2006 — A 42-unit affordable transitional housing facility and expanded training center are taking shape out of a downtown warehouse.
  
• New $10M Assisted Living Facility for Mission Seniors
  MISSION, British Columbia, October 28, 2006 — Federal, provincial and community funding partners gathered today to celebrate the opening of The Cedars, a new 58-unit assisted living facility in Mission - a first for the community.