Canadian Mortgage News

April 2002 National Archive

Mortgage News & Press Releases - April 2002

• GMAC - RFC Acquires Canada's Leading Mortgage Brokerage
  Deal allows Mortgage Intelligence to introduce new niche lending products in Canada TORONTO/MINNEAPOLIS — Wednesday April 3, 2002 Mortgage Intelligence, the largest independent residential mortgage brokerage in Canada, today announced the sale of the company to GMAC Residential Funding of Canada, Limited, a subsidiary of Residential Funding Corporation (GMAC-RFC), which is …
  
• Housing Starts Increased 10.9 Per Cent in March
  OTTAWA, Ontario, April 9, 2002 — The seasonally adjusted annual rate* of housing starts in Canada increased 10.9 per cent in March to 199,800 units from 180,100 units in February, according to Canada Mortgage and Housing Corporation (CMHC). Urban singles were up 3.4 per cent to an annual rate of 103,200 units in March from 99,800 in February while urban multiple starts rose 27.0 per …
  
• CMHC's Housing Affordability Grant Recipients Announced
  OTTAWA, Ontario, April 15, 2002 — Fifteen grants, worth up to $20,000 each, have been awarded under Canada Mortgage and Housing Corporation's (CMHC) Affordability and Choice Today (ACT) Program. In making the announcement today, the Honourable John Manley, Deputy Prime Minister and Minister of Infrastructure and Crown Corporations said, "These grants will help municipalities and the …
  
• Bank of Canada raises overnight rate target by 1/4 percentage point to 2 1/4 ...
  OTTAWA, Ontario, April 16, 2002 The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 2 1/2 per cent. The accumulated information since the beginning of the year continues to indicate …
  
• CMHC's Homeowner's Manual Helps Royal Lepage Add Value To Service
  OTTAWA, Ontario, April 18, 2002 — Canada Mortgage and Housing Corporation's (CMHC) Homeowner's Manual has been adopted by Royal LePage real estate for use as a marketing and service tool for its affiliate agents across the country as part of their client service package to better serve their customers. "Using CMHC's Homeowner's Manual is a mutually beneficial initiative and a …
  
• Bank of Canada releases its April Monetary Policy Report
  OTTAWA, Ontario, April 24, 2002 — The Bank of Canada today released its semi-annual Monetary Policy Report, in which it discusses economic and financial trends in the context of Canada's inflation-control strategy. Canada's economic outlook has improved significantly since the November Monetary Policy Report . Indeed, information on the fourth quarter of last year and the first quarter …