Canadian Mortgage News

February 2004 National Archive

Mortgage News & Press Releases - February 2004

• Housing Starts Expected to Remain Strong in 2004
  OTTAWA, Ontario, February 5, 2004 — Housing starts are expected to remain strong in 2004, reaching 203,900 units, their third highest level since 1989, according to Canada Mortgage and Housing Corporation's (CMHC) first quarter Housing Outlook, National Edition report. This is down from a 15-year high of 218,400 units in 2003. "Consumer confidence remains high while mortgage rates …
  
• iadjust from Mortgage Intelligence offers consumers access to low ...
  Mississauga, ON (February 6, 2004) – Mortgage Intelligence Inc. has introduced the lowest adjustable-rate mortgage to the Canadian marketplace. The iadjust mortgage is based on 90-day Bankers’ Acceptances (BA), the market rate that financial institutions charge each other for short-term borrowings. Over the past six years, the spread between prime and BAs has been as high as 2.21 …
  
• New Home Construction Off to Good Start in 2004
  OTTAWA, Ontario, February 9, 2004 — The seasonally adjusted annual rate 1 of housing starts was 195,500 in January, compared with 219,400 starts in December 2003, reports Canada Mortgage and Housing Corporation (CMHC). "This year began with a high level of starts which shows the housing market continues to benefit from tight labour markets and low mortgage rates," said Bob Dugan, Chief …
  
• Finding Down Payments Just Got a Lot Easier
  OTTAWA, Ontario, February 23, 2004 — Home buyers, will have greater choice in what they can use for a down payment, thanks to new options announced today by Canada Mortgage and Housing Corporation (CMHC). Borrowers are normally required to have a minimum five per cent down payment from their own resources to purchase a home. However, CMHC has expanded eligible down payment sources to …
  
• Canadians have more payment options when buying a home, says Invis
  TORONTO, February 24, 2004 – Canadian homebuyers no longer need to save a minimum of five per cent of the purchase price when buying a home, as outlined by new options from the Canadian Mortgage and Housing Corporation (CMHC) beginning March 1, 2004. But according to Invis, Canada’s largest independent mortgage brokerage, these new options bring a number of implications for …
  
• Brantford Receives $2.7 Million for Affordable Housing
  BRANTFORD, Ontario, February 26, 2004 — Up to 100 units of affordable housing for low-income people in the City of Brantford and Brant County will be funded by a $2.7 million allocation under the Canada-Ontario Affordable Housing Program. The announcement was made by the Honourable Joseph Volpe, Minister of Human Resources and Skills Development, and Dave Levac, MPP Brant, as part of …
  
• $56 Million Allocated for Affordable Housing in Ontario
  TORONTO, Ontario, February 26, 2004 — More than 2,300 new affordable housing units will be created in municipalities in Ontario thanks to $56 million in funding under the Canada-Ontario Affordable Housing Program. The announcement was made by the Honourable Andy Scott, Minister of State (Infrastructure) and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), and the …
  
• Four Affordable Housing Projects Approved in Wellington - Guelph
  GUELPH, Ontario, February 26, 2004 — Four projects that will create 94 units of affordable housing for low-income people in Wellington - Guelph were allocated more than $2.3 million under the Canada-Ontario Affordable Housing Program. The announcement was made by the Honourable Joseph Volpe, Minister of Human Resources and Skills Development, and Liz Sandals, MPP Guelph - Wellington, as …
  
• Affordable Housing Pilot Projects Approved in City of Hamilton
  HAMILTON, Ontario, February 26, 2004 — Two pilot projects that will create 60 units of affordable housing for low-income people in the City of Hamilton have been allocated a total of $1.6 million under the Canada-Ontario Affordable Housing Program. The announcement was made by the Honourable Joseph Volpe, Minister of Human Resources and Skills Development, and Dominic Agostino, MPP …
  
• Affordable Housing Projects Approved in Kingston
  KINGSTON, Ontario, February 26, 2004 — Three projects that will create 105 units of affordable housing for low-income people in the City of Kingston will be funded by a $1.9 million allocation under the Canada-Ontario Affordable Housing Program. The announcement was made by the Peter Milliken, Member of Parliament for Kingston and the Islands, and the Honourable John Gerretsen, …
  
• Two Affordable Housing Pilot Projects Approved in the City of London
  LONDON, Ontario, February 26, 2004 — Two pilot projects that will create 102 units of affordable housing for low-income people in the City of London were allocated more than $2.7 million under the Canada-Ontario Affordable Housing Program. The announcement was made by the Honourable Joseph Volpe, Minister of Human Resources and Skills Development, and Deb Matthews, MPP London North …
  
• Niagara Region Receives $4 Million for Affordable Housing
  NIAGARA, Ontario, February 26, 2004 — Up to 150 units of affordable housing for low-income people in the Region of Niagara will be funded by a $4 million allocation under the Canada/Ontario Affordable Housing Program. The announcement was made by the Honourable Joseph Volpe, Minister of Human Resources and Skills Development, and Kim Craitor, MPP Niagara Falls, as part of $56 million …
  
• Affordable Housing Pilot Projects Approved in Peel Region
  PEEL REGION, Ontario, February 26, 2004 — Three pilot projects that will create 384 units of affordable housing for low-income people in Peel Region have been allocated a total of $4.3 million under the Canada-Ontario Affordable Housing Program. The announcement was made by the Honourable Joseph Volpe, Minister of Human Resources and Skills Development, and Linda Jeffrey, MPP Brampton …
  
• Woollen Mill Affordable Housing Pilot Project Approved in City of Peterborough
  PETERBOROUGH, Ontario, February 26, 2004 — More than $1.3 million, allocated under the Canada-Ontario Affordable Housing Program, will help fund the Woollen Mill pilot project that will create 50 units of affordable housing for low-income people in the City of Peterborough. The announcement was made by Peter Adams, Member of Parliament for Peterborough, and Jeff Leal, MPP Peterborough, …
  
• Stratford Receives $2.7 Million for Affordable Housing
  STRATFORD, Ontario, February 26, 2004 — Up to 100 units of affordable housing for low-income people in the City of Stratford, County of Perth and Town of St. Marys will be funded by a $2.7 million allocation under the Canada-Ontario Affordable Housing Program. The announcement was made by the Honourable Joseph Volpe, Minister of Human Resources and Skills Development, and John …
  
• $24 Million Allocated for Affordable Housing in City of Toronto
  TORONTO, Ontario, February 26, 2004 — A $24 million allocation under the Canada-Ontario Affordable Housing Program will assist with the construction of 903 units of affordable housing by the private and non-profit sectors for low- to moderate-income households in the City of Toronto. The announcement was made today by the Honourable Joseph Volpe, Minister of Human Resources and Skills …
  
• Windsor Receives $3.7 Million for Affordable Housing
  WINDSOR, Ontario, February 26, 2004 — More than $3.7 million, allocated under the Canada-Ontario Affordable Housing Program, will help fund up to 140 units of affordable housing for low-income people in the City of Windsor and Essex County. The announcement was made by the Honourable Joseph Volpe, Minister of Human Resources and Skills Development, and Bruce Crozier, MPP Essex, as part …
  
• Two Affordable Housing Pilot Projects Approved in York Region
  NEWMARKET, Ontario, February 26, 2004 — Two pilot projects that will create 118 units of affordable housing in York Region were allocated more than $3.1 million under the Canada-Ontario Affordable Housing Program. The announcement was made by the Honourable Joseph Volpe, Minister of Human Resources and Skills Development, and Greg Sorbara, MPP Vaughan - King - Aurora, as part of $56 …
  
• Canada and Ontario Provide $1 Million for Repairs to Housing in Northern Ontario
  TORONTO, Ontario, February 26, 2004 — The Frontiers Foundation has been allocated $1 million under the Canada-Ontario Affordable Housing Program to renovate housing for native families living in Northern Ontario, it was announced today. The announcement was made by the Honourable Joe Comuzzi, Minister of State (Federal Economic Development Initiative for Northern Ontario), and David …