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December 2004 National Archive

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Mortgage News & Press Releases - December 2004

  • Mortgage Intelligence introduces Canada's first 'no doc'* mortgage
    Mississauga, Ontario (December 1, 2004) – Potential homebuyers can forget about paperwork when it comes to securing a mortgage, thanks to a new product introduced by Mortgage Intelligence. The i deserve™ mortgage, the first of its kind in Canada, allows clients to purchase a home without having to state their earnings. The only information to be provided is the applicant’s …
  • Five-Year Fixed Mortgage Rates Fall to 30-Week Low Ahead of Bank of Canada ...
    Toronto, December 2, 2004 – While next week's Bank of Canada rate announcement may impact homeowners with variable rate mortgages, those in the market for a new mortgage can take comfort in the fact "fixed mortgage rates" are edging lower. According to Invis, fixed rates have fallen below the five per cent threshold for the first time since May 2004. "Canadians looking to buy a home are …
  • Canada-B.C. Affordable Housing Agreement — Phase II
    VANCOUVER, British Columbia, December 3, 2004 — The Government of Canada and the Province of British Columbia are allocating $84 million towards transitional housing and a range of supports to help communities tackle the challenges of homelessness, mental illness and drug addiction. Premier Gordon Campbell and the Honourable David Emerson, Minister of Industry, on behalf of the …
  • Minister Fontana Releases Details of New Affordable Housing Flexibilities and ...
    OTTAWA, Ontario, December 3, 2004 — Minister of Labour and Housing Joe Fontana today announced the details of the flexibilities he delivered to the provincial and territorial ministers responsible for housing, during their Federal-Provincial-Territorial meeting on Tuesday, in Gatineau, Quebec. At the meeting, the ministers discussed modifications to current affordable housing programs …
  • CMHC and Habitat for Humanity hold Third Annual Gingerbread House Design ...
    OTTAWA, Ontario, December 3, 2004 — The third annual Gingerbread House Competition will be held December 3, 4, and 5 at Canada Mortgage and Housing Corporation's (CMHC) Montreal Road Offices. The MP for Ottawa-Vanier, the Honourable Mauril Bélanger, will attend the closing ceremony December 5 and present the winners their awards around 2.00 p.m. The design competition, a joint …
  • Groundbreaking held for Bloomingdale Mews
    KITCHENER, Ontario, December 3, 2004 — The Government of Canada, the Government of Ontario, and the Region of Waterloo today celebrated the official groundbreaking for Bloomingdale Mews. The $7.6 million project, including more than $1 million from the Canada-Ontario Affordable Housing Program, will provide 79 apartments of affordable housing in Kitchener. Lynn Myers, MP …
  • Sod Turning — 30 New Affordable Housing Units in Terrebonne
    TERREBONNE, Québec, December 6, 2004 — Low- and moderate-income families and individuals will soon have more affordable housing options thanks to the construction of 30 new housing units at 477 Chartrand St., in Terrebonne. Pablo Rodriguez, MP for Honoré-Mercier, on behalf of the Honourable Joe Fontana, Minister of Labour and Housing; Alain Paquet, MNA for …
  • Bank of Canada keeps target for the overnight rate at 2 1/2 per cent
    OTTAWA, Ontario, December 7, 2004 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 1/2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 3/4 per cent. Information received since the October Monetary Policy Report ( MPR ) suggests that economic activity in Canada has been broadly in line with …
  • New Beginnings for Canada's First Shelter for Abused Women
    TORONTO, Ontario, December 7, 2004 — In a ribbon-cutting ceremony today, Interval House of Toronto, Canada's first shelter for abused women and their children, officially opened their newly renovated building. The purchase and renovation was made possible thanks to a total of more than $1.25 million in funding from Canada Mortgage and Housing Corporation's (CMHC) Shelter Enhancement …
  • Housing Starts Bounce Back in November
    OTTAWA, Ontario, December 8, 2004 — The seasonally adjusted annual rate 1 of housing starts was 238,200 in November, up from 225,000 in October, according to Canada Mortgage and Housing Corporation (CMHC). "Residential construction activity remained strong in November with housing starts coming in above the 200,000 level for an eighteenth consecutive month. New construction continues to …
  • New Shelter and Healing Centre for Assaulted Women Marks Official Opening
    TORONTO, Ontario, December 13, 2004 — Dignitaries, staff, volunteers and members of the local community today helped cut the ribbon of hope as Emily Stowe Shelter for Women officially opened the newly constructed 30-bed facility in Scarborough. The shelter's new home was made possible through the continued efforts of the shelter, the Government of Canada, Government of Ontario, and City …
  • Gingerbread House Building Competition Raises Funds for Shelters
    TORONTO, Ontario, December 14, 2004 — Toronto-area media celebrities participated in Canada Mortgage and Housing Corporation's (CMHC's) Second Annual "Building Housing Dreams" gingerbread house competition today. The event was held to raise funds and awareness for shelters in the Greater Toronto Area. Lunchtime crowds gathered to watch the teams face off at Commerce Court in downtown …
  • Angels in the Night Deliver Truckloads of Supplies to Homeless
    Toronto, December 14, 2004 – Starting today and throughout the evening, hundreds of volunteers from communities across seven Canadian cities will take to the streets to distribute $140,000 in new clothing and supplies to more than 50 homeless shelters and charities as part of the Angels in the Night volunteer program. "There are people out there in our communities who clearly need our …
  • Minister Fontana Proposes Appointment to CMHC Board
    OTTAWA, Ontario, December 16, 2004 – Minister of Labour and Housing Joe Fontana today announced the proposed appointment of Dino Chiesa, as Chairman of the Board of Canada Mortgage and Housing Corporation. The proposed appointment will be referred to the Standing Committee on Government Operations and Estimates for review. "Mr. Chiesa's extensive knowledge of the Canadian housing …
  • Area Emergency Shelter Gets Ultimate Makeover
    COBOURG, Ontario, December 20, 2004 — The only emergency shelter in Cobourg re-opened today after months of renovations. A ribbon-cutting ceremony unveiled the new and improved Transition House, a 22-bed facility that supports single parents, including fathers, who are in need of emergency shelter. "Transition House is so vitally important to ensuring at-risk individuals and their …
  • Average Rental Vacancy Rate Rose to 2.7 Per Cent
    OTTAWA, Ontario, December 21, 2004 — The average rental apartment vacancy rate in Canada's 28 major centres 1 rose to 2.7 per cent in October 2004 from 2.2 per cent a year ago, according to the Rental Market Survey released today by Canada Mortgage and Housing Corporation (CMHC). This is the third consecutive annual increase in the vacancy rate, but it remains below the 3.3 per cent …
  • Consultations on a Canadian Housing Framework to begin in January 2005
    OTTAWA, Ontario, December 21, 2004 — The Honourable Joe Fontana, Minister of Labour and Housing, today announced the schedule of consultations to assist in developing a Canadian Housing Framework. These consultations are part of a long-term partnership-based housing framework. "The purpose of these consultations is to gain a better understanding of housing and homelessness issues, and …


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