Canadian Mortgage News

May 2001 National Archive

Mortgage News & Press Releases - May 2001

• Bank of Canada releases semi-annual Monetary Policy Report
  OTTAWA, Ontario, May 1, 2001 — The Bank of Canada today released its thirteenth semi-annual Monetary Policy Report in which it discusses economic and financial trends in the context of Canada's inflation-control strategy. The Monetary Policy Report is published every May and November. At this time, the key issue in the conduct of monetary policy in Canada is the extent of the current …
  
• Housing Starts Rising This Year and Resilient in 2002
  OTTAWA, Ontario, May 2, 2001 — Housing starts in Canada are expected to reach 158,600 units this year and 157,700 in 2002, compared to 151,653 in 2000, according to Canada Mortgage and Housing Corporation's (CMHC) second quarter CMHC Housing Outlook report. "Despite the recent cooling of the North American economy, lower mortgage rates, favourable labour markets, income growth, …
  
• Housing Starts Up in April
  OTTAWA, Ontario, May 8, 2001 — The seasonally adjusted annual rate* of housing starts in Canada rose 3.1 per cent in April to 162,300 units compared with 157,400 units in March, according to Canada Mortgage and Housing Corporation (CMHC). April's urban multiple starts were up 15.2 per cent to an annual rate of 65,800 units compared with 57,100 in March, due to more starts in the …
  
• Joint Statement of the Government of Canada and the Bank of Canada on the ...
  OTTAWA, Ontario, May 17, 2001 — The objective of Canada's monetary policy is to support and advance national economic well-being by contributing to sustained economic growth, rising levels of employment and improved living standards. The best contribution monetary policy can make to securing this outcome is to preserve confidence in the value of money by providing individuals and …
  
• Bank releases background information on renewal of the inflation-control target
  OTTAWA, Ontario, May 18, 2001 — The Bank of Canada today released the document Renewal of the Inflation-Control Target: Background Information, which provides additional details on the target arrangements and on how the Bank plans to implement them in order to increase the predictability of inflation over the longer term. This release follows the announcement yesterday by the Government …
  
• CMHC Helps Canadian Builders Explore Opportunities in United Kingdom
  OTTAWA, Ontario, May 24, 2001 — Thirteen Canadian companies will be led by Canada Mortgage and Housing Corporation (CMHC) on a business mission to the United Kingdom, May 30 to June 1, Jean-François Martin, CMHC's Vice-President of Communications, Marketing and Export Development announced today. The mission has been organized by CMHC in partnership with the Department of Foreign …
  
• CMHC Helps Quebec Association of Building Inspectors Add Value to Service
  OTTAWA, Ontario, May 24, 2001 — Canada Mortgage and Housing Corporation's (CMHC) Homeowner's Manual was adopted the beginning of April, by the Quebec Association of Building Inspectors (QABI) to use as part of their client service package to better serve their customers. "Using CMHC's Homeowner's Manual is a giant step toward helping homeowners protect the value of their home to …
  
• Bank of Canada lowers key policy rate* by 1/4 per cent
  OTTAWA, Ontario, May 29, 2001 —The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 4 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is reduced by one-quarter of one percentage point to 4 3/4 per cent. The slowing in economic growth in Canada that began …