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January 2003 National Archive

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Mortgage News & Press Releases - January 2003

  • Home Buying and Renovation Intentions Remain Strong
    OTTAWA, Ontario, January 8, 2003 — An average of 11% of households surveyed in Halifax, Montréal, Toronto, Calgary and Vancouver say they are in the market to buy a home, according to the Consumer Intentions to Buy or Renovate a Home survey from Canada Mortgage and Housing Corporation. This is the same proportion of households that reported intentions to buy a home in 2001-2002. …
  • 2002 Starts Best Since 1989
    OTTAWA, Ontario, January 9, 2003 — "2002 ended on a high note, posting the highest level of yearly starts since 1989, thanks to low mortgage rates, growing employment and increasing incomes", said David Weingarden, Senior Economist at Canada Mortgage and Housing Corporation's (CMHC) Market Analysis Centre. "Total housing starts for 2002 are an estimated 204,857, representing a growth rate …
  • Bank of Canada keeps target for the overnight rate at 2 3/4 per cent
    OTTAWA, Ontario, 21 January 2003 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 3/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 3 per cent. Since the Bank's last interest rate announcement on 3 December, both core and total CPI inflation have risen somewhat more than expected. This …
  • Bank of Canada releases Monetary Policy Report Update
    23 January 2003 — The Bank of Canada today released its Update to the October Monetary Policy Report. These reports discuss economic and financial trends in the context of Canada's inflation-control strategy. Core inflation has been higher than anticipated in recent months. This reflects not only a stronger-than-expected increase in premiums for auto and home insurance, but also some …
  • Mortgage Market to Surpass $500 Billion in 2003
    OTTAWA, Ontario, January 27, 2003 — A growing residential mortgage market in 2003 will surpass $517 billion in mortgage credit, reports a senior economist in the latest issue of Canada Mortgage and Housing Corporation's (CMHC), CMHC Mortgage Market Trends . "A combination of continued economic growth and job creation, positive demographic factors and low mortgage rates will sustain …
  • Monetary Policy Protects Canada from Persistent Inflation and Deflation, ...
    TORONTO, Ontario, 29 January 2003 — In a speech to the Speakers Forum, Bank of Canada Governor David Dodge said today that Canada's macroeconomic policy framework is protecting the economy from both persistently high inflation and the threat of deflation. Mr. Dodge said that recent rates of inflation in Canada have been higher than expected. At the same time, other countries are seeing …
  • $1.26 Million Helps Convert Hospital Into Affordable Homes
    VANCOUVER, British Columbia, January 29, 2003 — The Honourable David Anderson, Minister of the Environment, on behalf of David Collenette, Minister of Transport and Minister Responsible for Canada Mortgage and Housing Corporation, today announced the Government of Canada's $1.26 million contribution to help Madison Bellevue Developments convert a former Victoria hospital into a 70-unit …


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