Mortgage News & Press Releases - February 2003
- Official Opening of Youth Emergency Shelter in Peterborough
PETERBOROUGH, Ontario, February 7, 2003 — The Government of Canada contributed a total of $1,408,776 for the Youth Emergency Shelter in Peterborough, which today celebrates the official opening of its 30-bed emergency and transitional shelter in Peterborough. This project serves homeless youth aged 16 to 24, enabling them to escape abuse and domestic violence. "Not only will the Youth …
- Housing Starts Down 8.7 Per Cent in January
OTTAWA, Ontario, February 10, 2003 — The seasonally adjusted annual rate 1 of housing starts in Canada in January was 183,200, which is 8.7 per cent lower than December 2002's revised 2 rate of 200,700 units. "This year is off to a solid beginning, since in the past ten years only 2002 had more starts in January," said David Weingarden, Senior Economist at Canada Mortgage and Housing …
- Housing Starts will Surpass 200,000 Units in 2003
OTTAWA, Ontario, February 21, 2003 — Housing starts in Canada are expected to reach 205,500 units this year, according to Canada Mortgage and Housing Corporation's (CMHC) first quarter CMHC Housing Outlook, National Edition report. "Low mortgage rates, continued employment and income growth and rising migration, will support a vibrant housing market again this year", said David …
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Prime, simply put, means "best". Prime is the interest rate banks provide to their top customers on loans. Prime rate is influenced by economic conditions. Other rates, including variable interest rate mortgages, are influenced by prime.
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