Canadian Mortgage News

September 2003 National Archive

Mortgage News & Press Releases - September 2003

• CMHC to Introduce Variable Rate Mortgage-Backed Securities
  OTTAWA, Ontario, September 2, 2003 — "Variable Rate Mortgage-Backed Securities (VRMBS), Canada Mortgage and Housing Corporation's (CMHC) newest housing finance initiative to improve the supply of low-cost mortgage funds in Canada, will be introduced in September", says Karen Kinsley, President, Canada Mortgage and Housing. "Canadian home buyers will benefit because the VRMBS will …
  
• Bank of Canada lowers target for the overnight rate by 1/4 percentage point to ...
  OTTAWA, Ontario, 3 September 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 2 3/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 per cent. Since the Bank's last interest rate announcement on 15 July, inflation pressures have continued to …
  
• First Integrated Hospice/Affordable Housing Opens
  PORT MOODY, British Columbia, September 5, 2003 — The first development in Canada to integrate a hospice with affordable and supportive housing opened today in Port Moody. This unique partnership development combines secure, affordable housing for low- to moderate-income families and seniors who need some support services with a hospice centre for terminally ill people. Inlet Centre …
  
• Housing Starts Up in August
  OTTAWA, Ontario, September 9, 2003 — New home construction continued to rally in August as the seasonally adjusted annual rate 1 of housing starts increased to 233,900 from 223,500 in July, reports Canada Mortgage and Housing Corporation (CMHC). "Low mortgage rates and the belief that today is a good time to buy a house contributed to the strength in housing markets," said Bob Dugan, …
  
• Victoria's Homeless to Benefit from Federal Funds Helping Convert Motel to ...
  VICTORIA, British Columbia, September 16, 2003 - The Cedar Grove Apartments, formerly the Chestnut Grove Motel on Gorge Road, will be converted and upgraded to 21 self contained units, including four units accessible for persons with disabilities, thanks to $366,800 in Residential Rehabilitation Assistance Program (RRAP) funding through Canada Mortgage and Housing Corporation (CMHC). The …
  
• Inner City Families to Benefit from $1 Million Affordable Housing Project
  SASKATOON, Saskatchewan, September 24, 2003 - The federal and provincial governments today announced funding details on the third of four projects approved to date in Saskatoon under the Canada-Saskatchewan Affordable Housing Agreement. The project announced today will be managed by Quint Development Corporation and is worth $1.04 million. Quint will receive $946,000 in …
  
• First HIV/AIDS Residence and Day Centre Opens
  VANCOUVER, British Columbia, September 25, 2003 — The long-awaited Dr. Peter Centre opens its doors today in downtown Vancouver as the first supportive housing development and day-health program for people with HIV/AIDS in Canada. The centre, named after Dr. Peter Jepson-Young who founded the Dr. Peter AIDS Foundation, will provide needed comfort and care to people living with …
  
• Canada and Latvia Sign Housing Agreement
  OTTAWA, Ontario, September 29, 2003 — A five year agreement to share information, research and technological expertise was signed today by the Honourable Steven Mahoney, Secretary of State for Canada Mortgage and Housing Corporation and Ivars Gaters, Minister of Regional Development and Local Governments in Latvia. The Memorandum of Understanding solidifies discussions on housing …