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April 2003 National Archive

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Mortgage News & Press Releases - April 2003

  • Improved access to new housing for downtown homeless
    VANCOUVER, British Columbia, April 04, 2003 — Individuals at risk of homelessness and families with low incomes will have more access to permanent housing, emergency shelter beds and support services when an innovative new development is completed in downtown Vancouver. Construction has begun on the new Dunsmuir House at 555 Homer Street. Owned and operated by the Salvation Army, the …
  • Starts Remain Strong in March
    OTTAWA, Ontario, April 8, 2003 — The seasonally adjusted annual rate 1 of housing starts in Canada was 210,500 in March with the new housing market continuing to show a high level of activity, reports Canada Mortgage and Housing Corporation (CMHC). "Despite a decrease in starts in March compared with February, the underlying housing market remains strong thanks to employment growth, …
  • Expanded Partnership Initiatives Announced to Create Affordable Housing
    OTTAWA, Ontario, April 12, 2003 — The Honourable David Collenette, Minister of Transport, and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), today announced an innovative package of initiatives that will facilitate the production of affordable housing through partnerships. The package includes seed funding and interest-free proposal development loans, …
  • Canada and New Brunswick Sign $30 million Affordable Housing Agreement
    FREDERICTION, New Brunswick, April 14, 2003 — David Collenette, Minister of Transport and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), together with Steve Mahoney, Secretary of State (Selected Crown Corporations) and Joan MacAlpine, Minister of Family and Community Services of New Brunswick, signed a $29.96 million Canada-New Brunswick Affordable Housing …
  • Bank of Canada raises overnight rate target by 1/4 percentage point to 3 1/4 ...
    OTTAWA, Ontario, 15 April 2003 — The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3 1/4 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 3 1/2 per cent. Since the Bank's last interest rate announcement on 4 March, both core and total CPI inflation …
  • Ministers Discuss New Investments in Housing Programs
    WINNIPEG, Manitoba, April 16, 2003 — Federal, Provincial and Territorial Ministers responsible for housing met in Winnipeg today and agreed to continue working on investments in affordable housing and renovation programs. All Ministers agreed that progress has been made in increasing the availability of affordable housing and made a renewed commitment to consult on approaches to improve …
  • Mortgage Market Showed Healthy Growth In 2002
    OTTAWA, Ontario, April 16, 2003 — Low mortgage rates, robust employment and income growth, and weak equity markets laid the foundation for the remarkable performance of housing and mortgage markets last year, according to the latest issue of Canada Mortgage and Housing Corporation's (CMHC), CMHC Mortgage Market Trends . "Residential mortgage credit grew 7.2 per cent in 2002, up from …
  • Bank of Canada releases Monetary Policy Report
    OTTAWA, Ontario, 23 April 2003 — Since the October 2002 Monetary Policy Report, both core and total CPI inflation have been well above the 2 per cent inflation target. In this environment, inflation expectations have edged up. In view of the domestic inflation situation and the underlying momentum of domestic demand, the Bank raised its target overnight rate on each of its last two …


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