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September 2004 National Archive

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Mortgage News & Press Releases - September 2004

  • MoU with China Signed by Minister Fontana
    OTTAWA, Ontario, September 1, 2004 — A Memorandum of Understanding (MoU) to promote bilateral co-operation between Canada and China in housing was signed in Ottawa today by the Honourable Joe Fontana, Minister of Labour and Housing and the Honourable Minister Wang Guangtao, Minister of Construction of the People's Republic of China. "The Government of Canada, through Canada Mortgage …
  • New Affordable Housing for Seniors
    VICTORIA, British Columbia, September 7, 2004 — Seniors in Esquimalt with low- to modest-incomes have more housing options with the opening today of 39 units of new supportive seniors housing at Esquimalt Lions Grafton Lodge. This multi-partnership project is made possible with contributions from the federal and provincial governments, under the Canada-British Columbia Affordable …
  • Bank of Canada raises target for the overnight rate by 1/4 percentage point to ...
    OTTAWA, Ontario, September 8, 2004 — The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 2 1/2 per cent. Data received since the July Monetary Policy Report Update indicate that Canada's economic …
  • Federal Government Funds Repairs to Leaky Seniors Housing
    WEST VANCOUVER, British Columbia, September 8, 2004 — Don Bell, M.P. for North Vancouver, on behalf of the Honourable Joe Fontana, Minister of Labour and Housing, and the Kiwanis Seniors' Housing Society of West Vancouver today celebrated the completion of renovations to Kiwanis Court, a seniors' residence in West Vancouver. CMHC provided funding of $718,195 through its Residential …
  • CMHC Releases Report on the State of Canada's Housing
    OTTAWA, Ontario, September 8, 2004 — Over the last year, housing continued to be one of the faster growing sectors of the economy, supported by high levels of new construction, renovation and sales of existing homes according to the 2004 edition of the Canadian Housing Observer. The second edition of the Observer, an annual review of the state of Canadian Housing, was released today by …
  • Mortgage experts available for comment on Bank of Canada’s interest rate ...
    Toronto, September 8, 2004 – Canadians can view today’s decision by the Bank of Canada to raise the prime rate as an indicator that higher mortgage rates may be coming in the near future, and the decision serves as an important reminder for homebuyers to consider their mortgage options in a changing interest rate environment, according to Andrew Moor, president and CEO of Invis, …
  • Funding Partners Celebrate Opening of New Affordable Housing Projects
    FORT MCMURRAY, Alberta, September 9, 2004 — Low-income residents will now have improved access to affordable housing thanks to two new projects built with funding from all three levels of government. The Wood Buffalo Housing and Development Corporation announces the official opening of its two newest additions to the corporation's diverse housing portfolio: Horizon View, a 130-unit …
  • Home Construction Robust in August
    OTTAWA, Ontario, September 9, 2004 — The seasonally adjusted annual rate 1 of housing starts was 241,500 in August, up from 218,600 in July, according to Canada Mortgage and Housing Corporation (CMHC). "Nationally, the housing market continues to benefit from positive economic factors," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "Strong consumer confidence and …
  • Housing Integrated with Programs for Homeless People
    VANCOUVER, British Columbia, September 10, 2004 — A new 216-bed development with emergency shelter, transitional housing and resource programs officially opened in downtown Vancouver today. The Salvation Army Belkin House is the first facility in Canada to provide such a wide range of services to help homeless people, those at risk of homelessness and low-income families become …
  • Résidence Marguerite d'Youville
    VILLE-MARIE, Québec, September 10, 2004 — The Honourable Joseph Frank Fontana, Minister of Labour and Housing, and the Member of the National Assembly for Rouyn-Noranda — Témiscamingue, Mr. Daniel Bernard, on behalf of Mr. Jean-Marc Fournier, Minister of Municipal Affairs, Sports and Recreation, officially opened the Résidence Marguerite d'Youville today, in the …
  • More Housing and Health Care for Victoria Seniors
    VICTORIA, British Columbia, September 13, 2004 — A celebration of construction was held today for the Aberdeen Project, a new development that will combine supportive seniors housing, a health care centre and other services for seniors and their families. The development, which adjoins Aberdeen Hospital, will contain 45 units of affordable supportive seniors housing managed by Victoria …
  • HLM Place Jacola in Val-d'Or — $4.4M for the Reconstruction of 40 ...
    VAL-D'OR, Québec, September 13, 2004 — The Honourable Joe Fontana, Minister of Labour and Housing, Mr. Jean-Marc Fournier, Minister of Municipal Affairs, Sports and Recreation, and Mr. Fernand Trahan, Mayor of Val-d'Or, announced today the allocation of a $4.4M budget to the Val-d'Or Municipal Housing Bureau for the gradual demolition and reconstruction of the 40 low-rent housing …
  • Résidence La Seigneurie — 28 New Seniors Units in New Richmond
    NEW RICHMOND, Québec, September 13, 2004 — The Honourable Jean-C. Lapierre, Minister of Transport and Politic Lieutenant in Quebec, representing the Honourable Joseph Frank Fontana, Minister of Labour and Housing, and the Minister Responsible for Regional Development and Tourism, Minister Responsible for the Gaspésie-Îles-de-la-Madeleine region and Member of the …
  • Tearing Down the Walls on Youth Shelter
    TORONTO, Ontario, September 13, 2004 — The walls came tumbling down today as an official wall-breaking ceremony marked the start of construction to expand a shelter for homeless youth in Etobicoke. With a little innovation and imagination, the possibility of expanding Youth Without Shelter will become a reality as two side-by-side buildings in Toronto's west end will be linked to create …
  • Armitage Gardens Celebrates Official Opening
    NEWMARKET, Ontario, September 14, 2004 — The Government of Canada, the Government of Ontario and the Regional Municipality of York celebrated the official opening of Armitage Gardens today, the first project built in York Region under the Canada-Ontario Affordable Housing Program. The $8.4 million project, including $1.56 million from the Canada-Ontario Affordable Housing Program, will …
  • Canada to Host United Nations Human Settlement Programme World Urban Forum III ...
    BARCELONA, Spain, September 16, 2004 — Canada will host the next World Urban Forum in Vancouver, BC in June 2006, the Honourable Joe Fontana, Minister of Labour and Housing, and the Honourable Stephen Owen, Minister of Western Economic Diversification and Minister of State (Sport), announced today from the United Nations Human Settlements Programme's World Urban Forum II in Barcelona, …
  • A 10-Bed Extension is Added to a Shelter for Women and their Children in Ajax
    AJAX, Ontario, September 17, 2004 — More safe housing and support is on the horizon for women and their children who are victims of family violence, as 10 new beds are added to the existing 15-bed shelter celebrating their official opening by holding a ribbon-cutting ceremony at the newly expanded facility in Ajax earlier today. Herizon House was made possible thanks to more than $3.6 …
  • New Supportive Housing for Seniors
    WILLIAMS LAKE, British Columbia, September 17, 2004 — Seniors in the Cariboo with low incomes have more housing options with the opening today of 34 units of new supportive seniors housing. This multi-partnership initiative is made possible with contributions from the federal and provincial governments, under the Canada-British Columbia Affordable Housing Agreement, as well as the City of …
  • Governor Dodge Discusses Monetary Policy in an Evolving World Economy
    CALGARY, Alberta, September 20, 2004 — Bank of Canada Governor David Dodge today reviewed Canada's economic outlook and prospects for monetary policy in the context of the evolving world economy. In a speech to the Canadian Chamber of Commerce, Governor Dodge spoke about the implications for Canada of world economic trends, particularly the rise to prominence of China and India. "This …
  • Federal Government Funding Helps to Convert Motel into Affordable Housing
    VICTORIA, British Columbia, September 20, 2004 — The Honourable David Anderson, MP of Victoria, on behalf of the Honourable Joe Fontana, Minister of Labour and Housing, and Gorge Road Properties celebrated the opening of Waterway Apartments today in downtown Victoria. Canada Mortgage and Housing Corporation provided funding of $882,000 through its Residential Rehabilitation Assistance …
  • Golden Opportunity for Quebec Exporters
    MONTRÉAL, Québec, September 21, 2004 — While wood-frame housing currently accounts for 5 – 6 per cent of the total construction of single-family homes in France, that figure is expected to triple in the next 5 years to reach a market share of 15 – 20 per cent, according to the report entitled "Housing Export Market: Opportunities and Contacts in France" released …
  • YWCA Durham Celebrates Official Re-Opening of Adelaide House
    OSHAWA, Ontario, September 22, 2004 — After months of extensive renovations, YWCA Durham celebrated the official re-opening today of Adelaide House, a 72-bed house for women and their children. The YWCA at Adelaide House offers safe emergency housing, meals, crisis intervention and 24-hour support for women 16 years and older and mothers with children. The renovations to Adelaide House, …
  • 24 New Social and Community Housing Units in Saint-Jean-sur-Richelieu
    SAINT-JEAN-SUR-RICHELIEU, Québec, September 23, 2004 — The Honourable Jacques Saada, Minister of the Economic Development Agency of Canada for the Regions of Quebec and Minister responsible for the Francophonie, on behalf of the Honourable Joe Fontana, Minister of Labour and Housing; Mr. Jean Rioux the Member of the National Assembly for Iberville, on behalf of Mr. Jean-Marc …
  • Governments Provide Over $2.6 Million to Help Winnipeg's Homeless
    WINNIPEG, Manitoba, September 24, 2004 — Seven local organizations will receive over $2.6 million to provide affordable transitional housing for refugees and new immigrants to Winnipeg, as well as improve facilities and expand services for youth, individuals and families who are homeless or at risk of being homeless. The projects are being made possible with funding support from the …
  • L'Oasis — 21 New Housing Units for Seniors in Saint-Jean-Port-Joli
    SAINT-JEAN-PORT-JOLI, Québec, September 26, 2004 — The Honourable Jean-C. Lapierre, Minister of Transport and Political Lieutenant for Quebec, on behalf of the Honourable Joseph Frank Fontana, Minister of Labour and Housing; Mr. Norbert Morin, the Member of the National Assembly for Montmagny-L'Islet, on behalf of Mr. Jean-Marc Fournier, Minister of Municipal Affairs, Sports and …
  • Affordable Assisted Living for Gibsons' Seniors
    GIBSONS, British Columbia, September 27, 2004 — Seniors with low to moderate incomes in Gibsons will have more options for affordable housing and personal care with the construction of 60 assisted living apartments as part of a new campus of care that also includes complex care beds and dementia cottages. The official groundbreaking ceremony for this development took place today, with the …
  • La Résidence Rivière Richelieu — 70 New Affordable Housing ...
    RICHELIEU, Québec, September 27, 2004 — The Honourable Jacques Saada, Minister of the Economic Development Agency of Canada for the Regions of Quebec and Minister responsible for the Francophonie, on behalf of the Honourable Joe Fontana, Minister of Labour and Housing, Diane Legault, MNA for Chambly, on behalf of Jean-Marc Fournier, Minister of Municipal Affairs, Sports and …
  • Home Buyers' Plan Helps Turn Home Ownership Dream Into Reality
    OTTAWA, Ontario, September 28, 2004 — More than 123,000 individuals participated in the Home Buyers' Plan (HBP) in 2002 and withdrew over $1.3 billion from their RRSP to purchase homes, reports the latest issue of Canada Mortgage and Housing Corporation's (CMHC), Mortgage Market Trends. "The program take up has been heavily concentrated in large urban centers. Toronto and …

 

 
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