Canadian Mortgage News

July 2001 National Archive

Mortgage News & Press Releases - July 2001

• Homes Still Crown Jewel of Family Assets
  OTTAWA, Ontario, July 5, 2001 — Principal residences accounted for 38 per cent of family assets compared to 29 per cent for all financial assets combined according to a recently released Statistics Canada survey, reports Canada Mortgage and Housing Corporation's (CMHC), in its most recent Mortgage Market Trends.
  
• Housing Starts Up in June
  OTTAWA, Ontario, July 10, 2001 — The seasonally adjusted annual rate* of housing starts in Canada went up by 13.7 per cent in June to 176,200 units compared with 155,000 units in May, according to Canada Mortgage and Housing Corporation (CMHC).
  
• TELUS provides mortgage brokering and fulfilment through online mortgage centres on national Web portals
  BURNABY, BC and TORONTO, ON, July 11, 2001 /CNW/ — Consumers can now use the convenience of the Internet and Web-enabled cell phones to plan and purchase their mortgage through the TELUS portals myBC.com, Alberta.com and myTO.com. TELUS is the first Internet Service Provider in Canada to offer live, integrated mortgage services on its portals, free of …
  
• Bank of Canada lowers key policy interest rate by 1/4 percentage point to 4 1/4 per cent
  OTTAWA, Ontario, July 17, 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 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 4 1/2 per cent.