Canadian Mortgage News

September 2001 National Archive

Mortgage News & Press Releases - September 2001

• Starts Bounce Back in August
  OTTAWA, Ontario, September 11, 2001 — The seasonally adjusted annual rate* of housing starts in Canada increased by 11.6 per cent in August to 169,200 units compared with 151,600 units in July, according to Canada Mortgage and Housing Corporation (CMHC). Urban single starts rose by 9.2 per cent to an annual rate of 79,600 from 72,900 units in July. Urban multiple starts also rose by …
  
• Bank of Canada lowers key policy interest rate by 1/2 percentage point to 3 ...
  OTTAWA, Ontario, September 17, 2001 — The Bank of Canada today announced that it is lowering its target for the overnight rate* by one-half of one percentage point to 3 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 3/4 per cent. The tragic acts of terrorism in the United States on 11 September may pose significant …
  
• Residential Mortgage Credit Up 1.3 Percent in the Second Quarter of 2001
  OTTAWA, Ontario, September 28, 2001 — Low mortgage rates, rising disposable income and high consumer confidence laid the foundation for an active housing market and growth in mortgage credit in the second quarter of 2001, reports the latest issue of Canada Mortgage and Housing Corporation's (CMHC) Mortgage Market Trends . "Mortgage credit in the second quarter of 2001 increased by 1.3 …