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December 2003 National Archive

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Mortgage News & Press Releases - December 2003

  • Bank of Canada keeps target for the overnight rate at 2 3/4 per cent
    OTTAWA, Ontario, 2 December 2003 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 3/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 3 per cent. Recent economic developments bearing on the prospects for economic activity and inflation in Canada reflect a number of cross-currents. Core and …
  • Average Rental Vacancy Rate Rises to 2.2 Per Cent
    OTTAWA, Ontario, December 2, 2003 — The average rental apartment vacancy rate in Canada's 28 metropolitan areas 1 rose to 2.2 per cent in October 2003 from 1.7 per cent a year ago, but is below the average of 3.4 per cent over the 1992 to 2002 period, according to the Rental Market Survey released by Canada Mortgage and Housing Corporation (CMHC) today. This is the second consecutive …
  • Heartwood Place on Gaukel Celebrates Official Opening
    KITCHENER, Ontario, December 5, 2003 - The Government of Canada, the Government of Ontario and the Region of Waterloo today celebrated the official opening of Heartwood Place on Gaukel, a converted clothing factory designed to help meet the demand for affordable apartments in the core area of Kitchener. The project was built by non-profit organization Heartwood Place and adds 33 affordable …
  • Nine Apartment Buildings in St. Boniface Being Renovated with $850,000 from ...
    WINNIPEG, Manitoba, December 5, 2003 — Low- and moderate-income residents living in St. Boniface will have access to safe, quality rental accommodations with the renovation of 100 units of affordable housing. The Place St. Boniface project is being made possible with up to $850,000 in funding assistance from the governments of Canada and Manitoba and the City of Winnipeg through the …
  • Governor Reviews Past Adjustments and Future Trends in the Canadian Economy
    LONDON, Ontario, 8 December 2003 — Bank of Canada Governor David Dodge today reviewed the economic adjustments that Canadians made through the 1990s and talked about the adjustments that will be necessary in coming decades. In particular, the Governor emphasized the need to improve productivity if Canadians are to continue to enjoy rising incomes and to be able to deal with the …
  • November Starts Remain at High Level
    OTTAWA, Ontario, December 8, 2003 — The seasonally adjusted annual rate 1 of housing starts was 213,000 in November, compared to 237,300 in October, reports Canada Mortgage and Housing Corporation (CMHC). "Despite the decline in the rate of housing starts in November, the high level of activity continues to reflect a robust pace of housing construction across the country," said Bob …
  • 564 New Assisted Living Units Allocated for Seniors
    VANCOUVER, British Columbia, December 16, 2003 — Seniors will benefit from 564 new non-profit and private assisted living units in the Lower Mainland and Vancouver Island allocated under the Independent Living BC (ILBC) program. Today’s announcement, combined with the 649 units already awarded, brings the total allocation to more than 1,200 units across the province — about …


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