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CMHC: August housing starts match July's pace The pace of new housing construction remained es- sentially unchanged in August relative to July, reported Canada Mort- gage and Housing Cor- poration (CMHC). The number of hous- ing starts in August stood at 128,5000 units com- pared with 128,400 the previous month, season- ally adjusted at an annual rate (SAAR). A decline of 3.3 per cent in urban single unit construction, to 59,900 units (SAAR), was offset by a4.9 per cent increase in urban multiple starts, to 45,300 units (SAAR). PHONE: (905) 877-0173 NOTICE WANTED: A large, older home with character, in Georgetown, with 3 or 4 self-contained units, or a home capable of being converted for rental purposes. All responses in strict confidence. CONTACE: GARY BRAND, Fnhi, assoc. BROKER SR | 111111110 100011 ROYAL LEPAGE SN 1111001 REAL ESTATE SERVICES, GEORGETOWN "The one-year mort- gage rate dropped from 6.5 per cent to 6.125 per cent while the five-year rate declined from 8.5 per cent to 7.95 per cent dur- ing August. Declines in mortgage rates such as these typically lift the ex- isting homes market first," said Michel Laurence, Senior Econo- mist at CMHC's Market Analysis Centre. "The rate reductions will have more of an ef- fect on housing starts over the next few months, es- pecially if mortgage rates remain low." In Ontario, the number FAX: (905) 877-2219 For All the Right Reasons ... Successful Real Estate Professionals Advertise in 'House & Home' It's our region's leading real estate guide. Your ad will "BE SEEN" in Georgetown, Acton, Rockwood, Erin, Hillsburgh, Eden Mills, Everton, Ospringe, Ballinafad, Limehouse, Stewarttown, Norval, Terra Cotta, Hornby and North Mississauga. Call Rick Butler, Advertising Manager, today to book your space for next week! (905) 877-1113 Georgetown (519) 853-5100 Acton of urban starts for August closely matched that for July on a seasonally ad- justed basis. Total starts were 39,400 units. Construction of multi- ples rose in the province despite a drop in the To- ronto area. Fewer singles were built. REID'S HERI -- KIM@ID Commercial & Residential Cleaning Services Reasonable rates -- free estimates *"€ > 'Take the Grand Tour of Our 5 New NOD AOI * 5 Appliances ¢ Central Air Conditioning CEs in Guelph! INFO eae WAL ATTTUHL| wee mat