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July 2005 National Archive

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Mortgage News & Press Releases - July 2005

  • 30 New Assisted Living Units for Gulf Islands
    SALT SPRING ISLAND, British Columbia, July 11, 2005 — Gulf Island seniors in need of affordable housing with support will continue to call Salt Spring Island home with the construction of 30 assisted living units adjacent to the Greenwoods Intermediate Care Facility on Blain Road. This $7.7 million project is funded in part under the Canada-British Columbia Affordable Housing Agreement. …
  • Housing Starts Are Up in June
    OTTAWA, Ontario, July 11, 2005 — The seasonally adjusted annual rate 1 of housing starts was 237,200 units in June, up 7.2 per cent from 221,300 units in May, according to Canada Mortgage and Housing Corporation (CMHC). "The new home market was up in June with starts rising to their highest level of the year," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "The …
  • Bank of Canada keeps target for the overnight rate at 2 1/2 per cent
    OTTAWA, Ontario, 12 July 2005 — 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. Global and Canadian economic developments since the 25 May interest rate announcement have been broadly consistent with the Bank's expectations. …
  • Affordable Housing Initiatives Underway in Winnipeg
    WINNIPEG, Manitoba, July 12, 2005 — Low- to moderate-income residents in the William Whyte and North Point Douglas neighbourhoods will have access to more affordable and energy-efficient housing with the construction of 15 new homes, the rehabilitation of four rental units and grants to improve properties. The projects are being made possible with the help of over $1 million in funding …
  • Affordable Housing Project Opens in St.
    St. Stephen, Newfoundland and Labrador, July 13, 2005 — The Government of Canada and the Province of New Brunswick officially opened today a new affordable housing project in St. Stephen, Charlotte County. Funded under the Canada-New Brunswick Affordable Housing Agreement, the $1.1M project involves 12 new units of affordable housing for low- to moderate-income families. The …
  • Bank of Canada releases Monetary Policy Report Update
    OTTAWA, Ontario, 14 July 2005 — The Bank of Canada today released its July Monetary Policy Report Update, which discusses current economic and financial trends in the context of Canada's inflation-control strategy. Global and Canadian economic developments have been unfolding broadly as expected, and the Bank's outlook for output and inflation in Canada through to the end of 2006 is …
  • Norwood Road Affordable Housing Official Opening
    CHARLOTTETOWN, Prince Edward Island, July 18, 2005 — The Honourable Shawn Murphy, Member of Parliament for Charlottetown, on behalf of the Honourable Joe Fontana, Minister of Labour and Housing and the Honourable Chester Gillan, Prince Edward Island Minister of Health and Social Services, today officially opened the Norwood Road Housing Development, a new 12-unit affordable housing …
  • Meadow Lake Project Offers Community Multiple Benefits
    REGINA, Saskatchewan, July 20, 2005 — The Meadow Lake Outreach Ministry has received $700,000 under the Centenary Affordable Housing Program (CAHP) for a 14-unit, three-storey low-rise apartment building for single women and their children. "The Government of Canada is committed to helping single mothers and their children," said Ralph Goodale, Minister of Finance, on behalf of Joe …
  • Minister Announces Funding for Sustainable Housing
    WATERLOO, Ontario, July 20, 2005 — The Honourable Joe Fontana, Minister of Labour and Housing, through Canada Mortgage and Housing Corporation (CMHC) announced today a contribution of $1 million to launch the first phase of a Canadian net zero energy healthy housing initiative, a government/industry partnership to build a vision for a clean energy future and healthy communities. "Our …
  • Habitat for Humanity to Develop Two New Affordable Homes in Hunter River
    HUNTER RIVER, Prince Edward Island, July 21, 2005 — A Hunter River property once occupied by the RCMP is being converted into a side-by-side duplex, creating two new affordable homes for low income families. The Honourable Wayne Easter, Member of Parliament for Malpeque, on behalf of the Honourable Joe Fontana, Minister of Labour and Housing, along with the Honourable Chester Gillan, …
  • Homebuyers still primed to save thousands with today’s mortgage rates, ...
    Toronto, July 21, 2005 – According to Invis, five-year fixed mortgage rates are increasing from levels that were just above all-time lows, yet there are still plenty of opportunities for homebuyers to cash in on some of the lowest rates in recent memory. The last two days have seen a number of lenders increase rates on the popular five-year fixed rate mortgages by 0.10%. "While a …
  • Assisted Living Development to Complete Campus of Care
    ABBOTSFORD, British Columbia, July 26, 2005 — Seniors will benefit from more housing options with the new Tabor Home Society's 104 unit-assisted living development announced at today's official groundbreaking ceremony. The new development completes a campus of care, ensuring a full range of housing options for seniors in Abbotsford, including independent and assisted living apartments …
  • Energy Efficient Homes Made More Affordable
    OTTAWA, Ontario, July 27, 2005 — The Honourable Joe Fontana, Minister of Labour and Housing announced today several enhancements to mortgage loan insurance, that will promote energy efficiency and improve home affordability for many Canadians. Canada Mortgage and Housing Corporation's Mortgage Loan Insurance Program for Energy Efficient Programs is based on Natural Resources Canada's …
  • Nicickousemenecaning First Nation Celebrates Opening of New Homes
    FORT FRANCES, Ontario, July 27, 2005 — Nicickousemenecaning First Nation officially opened three new houses today at a community celebration. Funding from Canada Mortgage and Housing Corporation (CMHC) helped the community members build the three-bedroom detached houses in a new housing subdivision. CMHC provided a direct loan of $366,000, and is also providing an annual subsidy of …
  • Families in Danger of Homelessness Find Refuge at Hope House
    WELLAND, Ontario, July 28, 2005 — Men, women and families in danger of becoming another homeless statistic now have a safe and supportive place to turn to in Wellands' Hope House. The newly created emergency hostel, operated by The Hope Centre, formerly The Welland Community Resource and Action Centre was officially opened in a ribbon cutting celebration held earlier today. John …
  • New Assisted Living for Powell River Seniors
    POWELL RIVER, British Columbia, July 29, 2005 — Construction of Kiwanis Garden Manor, a new $8 million housing development, began today with an official groundbreaking ceremony. The project, funded in part under the Canada-British Columbia Affordable Housing Agreement, will provide 40 assisted-living units for seniors in Powell River. "This investment will provide seniors the …
  • Innovative Falcon Ridge Affordable Housing Project on Schedule
    WHITEHORSE, Yukon, July 29, 2005 — Yukon Housing Corporation's Board of Directors toured the Falcon Ridge Chalet Village affordable housing project today to examine the progress to date. Through the Canada-Yukon Affordable Housing Agreement, 44 homes and 20 rental units received $830,000 in funding. The Falcon Ridge Development Corporation will build 63 energy-efficient homes and 30 …
  • Homeownership Dream Made a Reality in Prince Albert
    PRINCE ALBERT, Saskatchewan, July 29, 2005 — An affordable housing project in Prince Albert is providing low- to moderate-income families with an opportunity to realize the dream of homeownership. Jovin Homes, a registered Saskatchewan corporation involved in the home construction business in Prince Albert for the last 16 years, has broken ground on building 10 new detached homes for …


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