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July 2003 National Archive

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Mortgage News & Press Releases - July 2003

  • Eight Affordable Housing Pilot Projects Approved in Waterloo Region
    KITCHENER, Ontario, July 3, 2003 — The Government of Canada and the Government of Ontario today allocated more than $4.1 million to help fund eight pilot projects that will create 287 units of affordable housing for low-income people in the Region of Waterloo, announced the Honourable Steven Mahoney, Secretary of State responsible for Canada Mortgage and Housing Corporation and Ontario's …
  • $6.4 Million in Funding for New Affordable Housing in Regina
    REGINA, Saskatchewan, July 3, 2003 — The federal and provincial governments today announced funding details on the first of six projects to be built in Regina under the Canada-Saskatchewan Affordable Housing Agreement. A total of $6.4 million will be allocated to the six projects, worth $19 million. Two of the six projects will be managed by the South Saskatchewan Independent Living …
  • Construction Begins on New Youth Shelter
    CAMBRIDGE, Ontario, July 3, 2003 - The Argus Residence for Young People, an emergency and transitional shelter for homeless youth between the ages of 15-24, celebrated the start of construction on a 10-bed shelter with an official ground breaking ceremony today. "The construction of this shelter demonstrates the Government of Canada's commitment to providing housing for at-risk and homeless …
  • Government Announces Additional Assistance for Housing Co-operatives with ...
    VANCOUVER, British Columbia, July 8, 2003 — The Honourable Steven Mahoney, Secretary of State responsible for Canada Mortgage and Housing Corporation (CMHC) announced today new measures to assist housing co-operatives in B.C. that are facing high repair costs to address moisture problems with their buildings. The package includes a more integrated, flexible approach and enhancements to …
  • New Shelter Opens for Homeless Families
    LINDSAY, Ontario, July 8, 2003 — A Place Called Home Residence celebrated its official opening today in Lindsay, Ontario. A Place Called Home is an 11-bed emergency shelter and transitional housing facility for homeless families and the disabled. "This new shelter demonstrates the Government of Canada's commitment to provide housing for homeless families not just in large cities, but …
  • New Housing Co-Op Helps Revitalize Neighbourhood
    VANCOUVER, British Columbia, July 8, 2003 — Families with low to moderate incomes will benefit from new affordable housing close to downtown Vancouver and False Creek with the official opening of the City Gate Housing Co-operative by the Honourable Steven Mahoney, Secretary of State responsible for Canada Mortgage and Housing Corporation, and George Abbott, Minister for Community, …
  • New Affordable Housing Opens in Riverside Meadows
    RED DEER, Alberta, July 9, 2003 — The doors to 39 new affordable rental units in Riverside Meadows officially open today as result of a funding partnership between federal and provincial governments, and a local private company. P & S Investments (Peter Leyen and Stan Schalk), the developers who contributed $699,000 towards the project, were recently provided $975,000 from Canada …
  • Housing Starts Rise in June
    OTTAWA, Ontario, July 9, 2003 — The seasonally adjusted annual rate 1 of housing starts was 210,400 in June, up from a revised 2 198,000 in May, signalling that residential construction continues at a strong pace, reports Canada Mortgage and Housing Corporation (CMHC). "Last month's increase in housing starts shows that the housing market continues to respond to stimulative economic …
  • First Homes To Be Built Under New Affordable Housing Initiative
    WINNIPEG, Manitoba, July 14, 2003 — Winnipeg residents will soon have access to more safe and affordable housing with the construction of 14 homes in the Spence, William Whyte and North Point Douglas neighbourhoods. The projects are made possible with the help of up to $760,000 in funding from the Government of Canada, the Province of Manitoba and the City of Winnipeg. The Honourable …
  • CMHC Reduces Homeowner Mortgage Insurance Premiums
    OTTAWA, Ontario, July 14, 2003 — Canada Mortgage and Housing Corporation (CMHC) is making homeownership more affordable through a 15 per cent reduction in homeowner premiums for mortgage loan insurance, effective today. Since 1954, CMHC mortgage insurance has helped one in three Canadians buy their homes, in most cases, their first home. The Corporation helps Canadians obtain financing …
  • Bank of Canada lowers target for the overnight rate by 1/4 percentage point to ...
    OTTAWA, Ontario, 15 July 2003 — The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 3 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 1/4 per cent. In recent months, there have been a number of unanticipated developments that bear on the outlook for …
  • Bank of Canada releases Monetary Policy Report Update
    OTTAWA, Ontario, 17 July 2003 — The Bank of Canada today released its Update to the April Monetary Policy Report. The Update reviews economic and financial trends in the context of Canada's inflation-control strategy. The July Update highlights a number of unanticipated developments that have changed the outlook for economic activity and inflation in …
  • Partnership Opens New Multicultural Family Housing in Surrey
    SURREY, British Columbia, July 23, 2003 - Low- to moderate-income families now have greater access to secure affordable housing with the opening of Salamat Housing, a new development serving multicultural families in Surrey. This project combines contributions from the federal and provincial governments, under the Canada-British Columbia Affordable Housing …
  • Bank of Canada releases 2004 schedule of dates for its policy interest rate ...
    OTTAWA, Ontario, 24 July 2003 — The Bank of Canada today released its 2004 schedule of eight dates for announcing decisions on its key policy interest rate, and confirmed the announcement dates for the remainder of this year. The announcement dates from September 2003 through December 2004 are: Wednesday, 3 September 2003


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