Canadian Mortgage News

October 2007 National Archive

Mortgage News & Press Releases - October 2007

• Transitional and Affordable Housing to Benefit Calgary's Northeast
  CALGARY, Alberta, October 04, 2007 — Canada’s New Government, together with the Government of Alberta and the Horizon Housing Society today officially opened Hamilton House, a renovated eight-bed transitional and affordable housing project in Northeast Calgary. This $803,000 project will provide housing and support to individuals with severe and persistent mental illness who no …
  
• More Affordable Housing Announced for Cape Breton Residents
  NORTH SYDNEY, Nova Scotia, October 05, 2007 — Cape Breton residents will soon have access to more affordable housing in Sydney, North Sydney and Sydney Mines. Through the Canada – Nova Scotia Affordable Housing Agreement, 130 units of affordable housing for families, singles, seniors and people with disabilities are being built or …
  
• Funding for New Housing Project in Petit Rocher
  PETIT ROCHER, New Brunswick, October 09, 2007 — Non-elderly singles, seniors and persons with disabilities in Petit Rocher will have access to more affordable housing with the construction of a new housing project by Jean-Guy and Gracia Arseneau.
  
• Housing Starts Move Higher in September
  OTTAWA, Ontario, October 09, 2007 — The seasonally adjusted annual rate1 of housing starts was 278,200 units in September, up 19.6 per cent from 232,700 units in August, according to Canada Mortgage and Housing Corporation (CMHC).
  
• US Mortgage Crisis not affecting Online Canadian Brokerage
  CALGARY, Alberta, October 10, 2007 — The recent mortgage crisis in the United States has raised concerns and has left many people wondering if or how it will affect the Canadian mortgage market. The good news is that many mortgage brokerage firms are expressing that the US credit crisis is not a major issue in the Canadian market.
  
• Nexus Solar / South Beach Homes Partnership Starts Construction on EQuilibrium Demonstration House in Prince Albert
  PRINCE ALBERT, Saskatchewan, October 10, 2007 — The Honourable Monte Solberg, Minister of Human Resources and Social Development, and Minister responsible for Canada Mortgage and Housing Corporation (CMHC) announced the start of construction of an EQuilibrium demonstration home today.
  
• New Affordable Housing Projects Approved for Summerside and Charlottetown
  SUMMERSIDE, Prince Edward Island, October 11, 2007 — Individuals with disabilities will have access to more affordable barrier-free housing with the construction and opening of new projects in Summerside and Charlottetown.
  
• Affordable Housing Project Opens in Saint John
  SAINT JOHN, New Brunswick, October 11, 2007 — Canada’s New Government and the Province of New Brunswick officially opened an affordable housing project in Saint John today, funded under the Canada – New Brunswick Affordable Housing Agreement. The project created 33 new affordable housing units for seniors and persons with …
  
• Affordable Housing Project for Seniors Opens in Fredericton
  FREDERICTON, New Brunswick, October 11, 2007 — Canada’s New Government and the Province of New Brunswick officially opened an affordable housing project in Fredericton today, funded under the Canada – New Brunswick Affordable Housing Agreement. The project created 19 new affordable housing units for seniors.
  
• A New Affordable Housing Project Officially Opens in Summerside
  SUMMERSIDE, Prince Edward Island, October 11, 2007 — Individuals coping with a mental illness now have access to affordable, supportive housing in Summerside.
  
• Affordable Seniors Housing Opens in North Vancouver
  NORTH VANCOUVER, British Columbia, October 12, 2007 — A new seniors’ housing development in North Vancouver officially opened today with federal, provincial, and community partners on hand to mark the occasion.
  
• Bank of Canada keeps target for the overnight rate at 4 1/2 per cent
  OTTAWA, Ontario, October 16, 2007 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 4 3/4 per cent.
  
• Bank of Canada releases Monetary Policy Report
  OTTAWA, British Columbia, October 18, 2007 — The Bank of Canada today released its October Monetary Policy Report, which discusses current economic and financial trends in the context of Canada's inflation-control strategy.
  
• Affordable Housing Project for Seniors Opens in Grand Falls
  GRAND FALLS, New Brunswick, October 19, 2007 — Seniors in Grand Falls will have access to more affordable housing with today's official opening of Les Villas LPR. This $775,000 12-unit project includes six new affordable housing units. The project was funded under the Canada – New Brunswick Affordable Housing Agreement.
  
• Housing for Homeless People with Disabilities Opens Doors
  CALGARY, Alberta, October 19, 2007 — Mr Art Hanger, Member of Parliament for Calgary Northeast, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development, today recognized the official opening of Calgary’s Kootenay Lodge, a transitional housing facility for homeless persons and persons at risk of homelessness with physical …
  
• CMHC Releases Comprehensive Report on Housing in Canada
  OTTAWA, Ontario, October 22, 2007 — Building greener homes in higher-density neighbourhoods near public transit, rather than in sprawling suburbs, is key to reducing the housing sector’s impact on the environment and lowering greenhouse gas emissions, according to the 2007 Canadian Housing Observer released today by Canada Mortgage and Housing Corporation …
  
• Canadian Boomer Resilience: 84% Not Scared Off Real Estate Despite U.S. Housing Downturn
  OTTAWA, Ontario, October 30, 2007 — The tax changes outlined in the federal government’s economic statement are one step in helping Canadians buy a new home, but The Canadian Real Estate Association says the government should include other initiatives in the next federal budget, including the outstanding election promise of addressing capital gains …
  
• $1.2 Million Invested in Spence Neighbourhood Affordable Housing Projects
  WINNIPEG, Manitoba, October 26, 2007 — Comfort and affordability go hand-in-hand with the opening of Spence Cozy Rooms, a 12-unit affordable housing project that received $320,000 from the Winnipeg Housing and Homelessness Initiative (WHHI).
  
• AccèsLogis Québec — Opening of Carré Saint-Louis de Joliette, in Joliette
  JOLIETTE, Quebec, October 26, 2007 — Single mothers, low-income families and individuals from the Joliette area now have access to more affordably housing thanks to the renovation of the Congrégation des sœurs des Saints Cœurs de Jésus et de Marie’s provincial house. This renovation has led to the creation of the Maison Pauline Bonin and Logements …
  
• Housing Starts to Dip in 2008 Following a Rise in 2007
  OTTAWA, Ontario, October 30, 2007 — Housing starts will reach 227,530 units in 2007, an increase of 0.1 per cent from the 227,395 units in 2006, according to Canada Mortgage and Housing Corporation’s (CMHC) fourth quarter Housing Market Outlook, Canada Edition report. However, in 2008, residential construction will decline to about 214,000 units. Despite this drop, 2008 will mark the …
  
• Some home buyers will benefit from new tax measures
  OTTAWA, Ontario, October 30, 2007 — The tax changes outlined in the federal government’s economic statement are one step in helping Canadians buy a new home, but The Canadian Real Estate Association says the government should include other initiatives in the next federal budget, including the outstanding election promise of addressing capital gains …
  
• New Rental Affordability Study Ranks Canada’s Five Major Centres
  OTTAWA, Ontario, October 31, 2007 — Montreal’s rental market is the most affordable of Canada’s five major centres, according to Canada Mortgage and Housing Corporation (CMHC)’s new rental affordability indicator. However, this year rental affordability in Toronto is increasing, while it is declining in Calgary and Montreal and remains stable in both Vancouver and …