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October 2006 National Archive

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Mortgage News & Press Releases - October 2006

  • Affordable Student Housing Pilot Program
    HALIFAX, Nova Scotia, October 4, 2006 — Low-income single parents attending university will have access to more affordable rental housing thanks to a student housing pilot program created under the Canada – Nova Scotia Affordable Housing agreement. The Honourable Peter MacKay, Minister of Foreign Affairs and Minister of the Atlantic Canada Opportunities Agency, on behalf of the …
  • CREA releases MLS® forecast
    MLS® home sales on track to set new records in 2006 OTTAWA, Ontario, October 04, 2006 — Canada’s resale housing market will edge past 2005 sales statistics to set new records in 2006, according to a revised forecast prepared by The Canadian Real Estate Association (CREA). After setting the fifth consecutive annual record in 2005 at 483,233 units, CREA expects national resale …
  • Housing Complex for Seniors Opens in Warman
    WARMAN, Saskatchewan, October 6, 2006 — Federal, provincial and community partners gathered in Warman today to celebrate the opening of the Warman Mennonite Seniors Haven, an 8-unit, independent living housing complex for low-income seniors. The complex received funding from all three levels of government totaling $400,000. The rental units were constructed under the Centenary …
  • Housing Starts Move Lower in September
    OTTAWA, Ontario, October 10, 2006 — The seasonally adjusted annual rate 1 of housing starts was 211,300 units in September, down slightly from 216,600 units in August, according to Canada Mortgage and Housing Corporation (CMHC). "The decline in housing starts is attributable to a decline in multiple starts, which reached their lowest level since July 2004. For a second consecutive …
  • Affordable Seniors Assisted Living Opens in Saanich
    SAANICH, British Columbia, October 11, 2006 — Legion Manor Victoria, a new assisted living development for seniors, celebrated its official opening today with representatives from the federal and provincial governments, Lt. Governor Iona Campagnolo, and other community partners. Legion Manor Victoria, located in Central Saanich, offers 68 units of affordable assisted living. The …
  • Places for People Celebrates Renovations to Affordable Housing in Orillia
    ORILLIA, Ontario, October 12, 2006 — Places for People unveiled renovations to three rental apartments in their first affordable housing project today in Orillia. The newly renovated units, located at 290 Mississauga Street West, will provide affordable, permanent housing for families or individuals at risk of homelessness. The federal government provided $72,000 through Canada Mortgage …
  • Camrose Celebrates Two Affordable Housing Projects
    CAMROSE, Alberta, October 13, 2006 — Today, the City of Camrose is celebrating the official opening of the $1.9 million Sparling Manor Affordable Housing project and the dedication of the $2.0 million Bethany Group Affordable Housing Complex. The projects, located on 53 Street and 52 Avenue, were built with special consideration for disabled residents. The Sparling Manor project …
  • Opening New Affordable Housing in Dorval
    DORVAL, Quebec, October 13, 2006 — Seniors now have more affordable housing options to live independently thanks to the construction of the 76 units of the Maison Donalda-Boyer, in Dorval. This announcement was made today, on the occasion of the opening of this residence, by the Honourable Michael M Fortier, Minister of Public Works and Government Services and Minister responsible for …
  • New Assisted Living Homes Open for Salmon Arm Seniors
    SALMON ARM, British Columbia, October 14, 2006 — The opening of Pioneer Lodge, a new $5.3-million development that provides affordable apartments and support services for seniors, was celebrated today by federal, provincial and community funding partners at an official ceremony. "Seniors in Salmon Arm now have access to more safe, quality, affordable housing that meets their specific …
  • Bank of Canada keeps target for the overnight rate at 4 1/4 per cent
    OTTAWA, Ontario, October 17, 2006 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 4 1/2 per cent. Since the July Monetary Policy Report Update (MPRU), total CPI inflation, excluding the temporary effect of the GST reduction, has been above …
  • Consumers win as rates cool off and competition heats up in mortgage industry
    TORONTO, Ontario, October 17, 2006 — With the Bank of Canada announcing today it is maintaining its key interest rate, variable rate mortgage holders can cheer about their payments remaining unchanged. Meanwhile, the price of some fixed-rate mortgages has been inching down in recent weeks, just as new product innovations are coming to market. According to mortgage brokerage Invis, the …
  • Bank of Canada releases Monetary Policy Report
    OTTAWA, Ontario, October 19, 2006 — The Bank of Canada today released the October Monetary Policy Report, which discusses current economic and financial trends in the context of Canada's inflation-control strategy. The Canadian economy is judged to be operating just above its production capacity. While global economic growth is expected to be a little higher than previously anticipated, …
  • First Subsidized Assisted Living in West Vancouver Opens
    WEST VANCOUVER, British Columbia, October 21, 2006 — Kiwanis Manor, a new $14.7 million supportive and assisted living development, which provides 76 new affordable housing apartments for seniors, was opened today by federal, provincial and community funding partners. Kiwanis Manor is the first subsidized assisted living development in West Vancouver. "Canada's New Government is proud …
  • $5 Million Approved for New Rent Supplement Program in Edmonton
    EDMONTON, Alberta, October 24, 2006 — Three orders of government are joining forces to provide rental assistance to an estimated 400 low-income households in Edmonton. The new program is part of the City of Edmonton’s Cornerstones Plan and will receive $5 million over five years to provide rent supplements for families in urgent need of housing assistance. A total of $2.5 million …
  • Affordable Housing Targeted to Brownfield Sites
    TORONTO, Ontario, October 26, 2006 — The Government of Canada and the Government of Ontario today allocated funding for a minimum of 300 units under the Canada – Ontario Affordable Housing Program to be built specifically on cleaned up brownfield sites. The announcement of the Affordable Housing Program – Brownfields Initiative was made today by the Honourable Diane Finley, …
  • Opening - 16 New Social and Community Housing Units in Cowansville
    COWANSVILLE, Quebec, October 27, 2006 — People with mental health problems or physical disabilities have more resources thanks to the construction of the 16 housing units that have been part of the Entrée Chez-Soi Brome – Missisquoi adapted residence in Cowansville, for three years now. This announcement was made today, on the occasion of the official opening of this …
  • Affordable Housing for Seniors in Chester
    CHESTER, Nova Scotia, October 27, 2006 — More than 35 seniors have moved in to new and affordable homes in the Shoreham Village seniors’ complex in Chester thanks to funding from the Canada – Nova Scotia Affordable Housing Agreement. Gerald Keddy, Member of Parliament for South Shore – St. Margaret’s, on behalf of the Honourable Diane Finley, Minister of Human …
  • Pre-Trades Program for Women Expands: More Classroom Capacity Plus Housing for ...
    EDMONTON, Alberta, October 27, 2006 — A 42-unit affordable transitional housing facility and expanded training center are taking shape out of a downtown warehouse. Women Building Futures, a not-for-profit society, is expanding their training facility and adding a housing component, which will allow 400 women each year to access the 16 week JourneyWoman Start Program, which provides …
  • New $10M Assisted Living Facility for Mission Seniors
    MISSION, British Columbia, October 28, 2006 — Federal, provincial and community funding partners gathered today to celebrate the opening of The Cedars, a new 58-unit assisted living facility in Mission - a first for the community. “Canada's new government is committed to working with our partners to help seniors live with dignity and independence," said Randy Kamp, Parliamentary …


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