Canadian Mortgage News

July 2002 National Archive

Mortgage News & Press Releases - July 2002

• Housing Starts Remain Above the 200,000 Mark in June
  OTTAWA, Ontario, July 8, 2002 — The seasonally adjusted annual rate* of housing starts in Canada slipped 0.6 per cent in June to 202,100 units from 203,300 units in May, according to Canada Mortgage and Housing Corporation (CMHC). Urban singles declined 4.4 per cent to an annual rate of 102,500 units from 107,200 in May while urban multiple starts rose 5.0 per cent to an annual rate of …
  
• Bank of Canada raises overnight rate target by 1/4 percentage point to 2 3/4 ...
  OTTAWA, Ontario, July 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 3/4 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 3 per cent. Since the Bank's last interest rate announcement on 4 June, the economic recovery in Canada has …
  
• Bank of Canada Releases Monetary Policy Report Update
  OTTAWA, Ontario, July 24, 2002 — The Bank of Canada today released its Update to the April Monetary Policy Report, in which it discusses economic and financial trends in the context of Canada's inflation-control strategy. Canada's economic recovery, which began in the last quarter of 2001, gathered momentum in the first half of 2002. Over the period to the end of 2003, the Bank …
  
• Deputy Prime Minister Manley Announces CMHC's 2002 Housing Awards Finalists
  OTTAWA, Ontario, July 31, 2002 — Fourteen finalists in Canada Mortgage and Housing Corporation's (CMHC) Housing Awards Program (HAP), which recognizes significant contributions to the advancement of Canadian housing, were announced today by the Honourable John Manley, Deputy Prime Minister, Minister of Finance and Minister of Infrastructure and Crown Corporations. This year's HAP, …