Mortgage News & Press Releases - September 2001
- Starts Bounce Back in August
OTTAWA, Ontario, September 11, 2001 — The seasonally adjusted annual rate* of housing starts in Canada increased by 11.6 per cent in August to 169,200 units compared with 151,600 units in July, according to Canada Mortgage and Housing Corporation (CMHC).
- Bank of Canada lowers key policy interest rate by 1/2 percentage point to 3 1/2 per cent
OTTAWA, Ontario, September 17, 2001 — The Bank of Canada today announced that it is lowering its target for the overnight rate* by one-half of one percentage point to 3 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 3/4 per cent.
- Residential Mortgage Credit Up 1.3 Percent in the Second Quarter of 2001
OTTAWA, Ontario, September 28, 2001 — Low mortgage rates, rising disposable income and high consumer confidence laid the foundation for an active housing market and growth in mortgage credit in the second quarter of 2001, reports the latest issue of Canada Mortgage and Housing Corporation's (CMHC) Mortgage Market Trends.
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