Canadian Mortgage News

October 2001 National Archive

Mortgage News & Press Releases - October 2001

• Bank of Canada releases 2002 schedule of dates for policy interest rate announcements
  OTTAWA, Ontario, October 1, 2001 — The Bank of Canada today released its schedule of eight dates for announcing decisions on its key policy interest rate for 2002. The schedule of announcement dates for the remainder of this year and for 2002 is:
  
• Housing Starts Declined in September
  OTTAWA, Ontario, October 9, 2001 — The seasonally adjusted annual rate* of housing starts in Canada decreased by 7.6 per cent in September to 156,600 units compared with 169,500 units in August, according to Canada Mortgage and Housing Corporation (CMHC).
  
• Bank of Canada lowers key policy interest rate by 3/4 percentage point to 2 3/4 per cent
  OTTAWA, Ontario, October 23, 2001 — The Bank of Canada today announced that it is lowering its target for the overnight rate* by three-quarters of one percentage point to 2 3/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 per cent.
  
• Bank of Canada Governor focuses on current and future economic challenges for Canada
  MONCTON, New Brunswick, October 24, 2001 — In a speech to the Greater Moncton Chamber of Commerce and the Conseil économique du Nouveau-Brunswick, Governor David Dodge said that the terrorist attacks in the United States, coming on top of a more pronounced-than-expected global economic slowdown, have heightened the uncertainty about the short-run economic …
  
• SHQ and CMHC Agree on Program Financing
  QUÉBEC, Québec, October 31, 2001 — The Minister of State for Municipal Affairs and Greater Montréal and Minister responsible for the Société d'habitation du Québec (SHQ), Louise Harel, and the Minister of Public Works and Government Services and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), Alfonso Gagliano, announced …