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June 2003 National Archive

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Mortgage News & Press Releases - June 2003

  • Canadian Consortium Announces $4.5 Million Contract in Algeria
    OTTAWA, Ontario, June 2, 2003 — A consortium composed of Canada Mortgage and Housing Corporation (CMHC), Développement international Desjardins (DID) et CRC SOGEMA announced it has won an international competition to deliver a technical assistance project for the development of mortgage lending in Algeria. This project, valued at CDN$4.5 million, will be delivered over a period …
  • Bank of Canada keeps target for the overnight rate at 3 1/4 per cent
    OTTAWA, Ontario, 3 June 2003 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3 1/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 3 1/2 per cent. Data released since the Bank's last interest rate announcement indicate that both core and total CPI inflation declined in April more than …
  • Mortgage Intelligence introduces 107 per cent financing to Canadian Marketplace
    Mississauga, Ont. (June 4, 2003) -- Mortgage Intelligence Inc., Canada’s largest mortgage broker, is set to launch the i 107 – the country’s first mortgage product that allows for financing above and beyond the value of the home. i 107 has a loan to value ratio of 107 per cent, including 100 per cent financing, three per cent cash back, and a four per cent service fee. …
  • Housing Starts Remain High in May
    OTTAWA, Ontario, June 9, 2003 — The seasonally adjusted annual rate 1 of housing starts was 197,900 in May, reflecting robust construction activity in the residential sector, reports Canada Mortgage and Housing Corporation (CMHC). "Last month's slight decline in the housing starts trend is consistent with the expected moderation in the level of activity later this year and in 2004", …
  • New Family Housing Opens in Strawberry Hill
    SURREY, British Columbia, June 12, 2003 — Low to moderate-income families will have more housing options with the opening of Strawberry Hill Apartments, a multi-family housing development in Surrey. The project combines contributions from the federal and provincial governments, under the Canada-British Columbia Affordable Housing Agreement, and the Conference Housing Society. "The …
  • Government of Canada Announces Appointments to the Board of the Canada ...
    OTTAWA, Ontario, June 16, 2003 — Transport Minister and Minister responsible for the Canada Mortgage and Housing Corporation CMHC), the Honourable David Collenette, today announced the appointments of Mr. Jocelyn Proteau as chair of the board of the CMHC and Ms. Karen Kinsley as president and chief executive officer. Mr. Collenette also announced that Mr. Dino Chiesa will be assuming the …
  • Housing Development Benefits Low-Income Urban Singles
    VANCOUVER, British Columbia, June 19, 2003 — A new 81-unit residential development in the Downtown Eastside will benefit low-income urban singles who have successfully completed rehabilitation and those wishing to live in a drug- and alcohol-free environment. The development at 361 Heatley Ave. is the first formal drug- and alcohol-free housing development in Canada. The tenants must …
  • Touchstone Youth Centre Celebrates Major Renovations
    TORONTO, Ontario, June 23, 2003 - Touchstone Youth Centre of Toronto celebrated the official opening today of its newly renovated 30-bed emergency shelter for homeless youth aged 16 to 20 who are often experiencing abuse and violence. All levels of government provided funding to make the renovation and ongoing operation of Touchstone Youth Centre a success. "This project is an excellent …
  • Official Opening of Passage House in Kingston
    KINGSTON, Ontario, June 26, 2003 - The Youth Net Expansion Project celebrated the official opening today of its eight-bed emergency and transitional shelter for homeless youth aged 16 to 24 experiencing abuse and domestic violence. The Honourable Peter Milliken, Member of Parliament for Kingston and the Islands, today welcomed the announcement from the Honourable Steven Mahoney, Secretary of …


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