Jason PelletierSenior Mortgage ConsultantSend EmailWork Phone: 1-877-568-0929
| 4.65% | 6 Months | 4.45% |
| 3.30% | 1 Year | 2.60% |
| 3.55% | 2 Years | 3.04% |
| 4.10% | 3 Years | 3.39% |
| 5.04% | 4 Years | 3.64% |
| 5.39% | 5 Years | 3.84% |
| 5.80% | 6 Years | 4.65% |
| 6.45% | 7 Years | 4.85% |
| 6.60% | 10 Years | 5.19% |
| 2.75% | 5 Years Adjustable | 2.05% |
*Rates are subject to change without notice.
*Conditions Apply
*OAC
|
December 2009
Welcome to the December issue of CAAMP Stats. CAAMP recently released its fall annual report on the state of the residential mortgage market in Canada. For a copy of the report - click here
For further information visit www.caamp.org
Bank of Canada Interest Rate
|
September 10, 2009
|
0.25%
|
|
October 20, 2009
|
0.25%*
|
|
December 8, 2009
|
Next meeting date
|
Source: Bank of Canada
*Bank of Canada statement included reference to hold rate to end of second quarter 2010
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Bank Prime Lending Rate
|
September 11, 2009
|
2.25%
|
|
October 21, 2009
|
2.25%
|
|
December 9, 2009
|
Next meeting date
|
Source: Bank of Canada
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US Federal Reserve Board Discount Rate
|
September 22, 2009
|
0.00% – 0.25%
|
|
November 4, 2009
|
0.00% – 0.25%
|
|
December 15, 2009
|
Next meeting date
|
Source: US Federal Reserve
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Exchange Rate $CDN($US)
|
October 30, 2009
|
.9243
|
|
November 13, 2009
|
.9519
|
|
November 27, 2009
|
.9421
|
Source: Bank of Canada
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Government of Canada Bonds
|
Bond Type
|
October 28,
2009
|
November 12, 2009
|
November 25, 2009
|
|
1 year Treasury Bill
|
0.60%
|
0.54%
|
0.48%
|
|
3 year Benchmark
Bond Yield
|
1.90%
|
1.87%
|
1.62%
|
|
5 year Benchmark
Bond Yield
|
2.70%
|
2.70%
|
2.41%
|
|
10 year Benchmark
Bond Yield
|
3.45%
|
3.51%
|
3.25%
|
Source: Bank of Canada
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Total New Housing Starts (Seasonable adjusted and annualized)
|
Province
|
August
2009
|
August
2008
|
September
2009
|
September
2008
|
October
2009
|
October 2008
|
|
Newfoundland/Labrador
|
2,400
|
3,100
|
2,800
|
3,200
|
2,900
|
3,100
|
|
PEI
|
1,000
|
700
|
700
|
500
|
1,200
|
600
|
|
Nova Scotia
|
4,200
|
3,300
|
4,500
|
4,400
|
4,000
|
4,300
|
|
New Brunswick
|
3,700
|
3,800
|
2,900
|
4,500
|
3,600
|
5,000
|
|
Quebec
|
47,300
|
43,300
|
41,300
|
70,100
|
37,200
|
48,400
|
|
Ontario
|
44,200
|
89,800
|
50,200
|
84,200
|
57,600
|
82,600
|
|
Manitoba
|
5,000
|
5,400
|
4,400
|
5,600
|
4,200
|
5,800
|
|
Saskatchewan
|
5,100
|
5,300
|
3,700
|
6,400
|
3,600
|
4,900
|
|
Alberta
|
18,400
|
22,900
|
22,600
|
57,300
|
25,000
|
24,700
|
|
British Columbia
|
19,200
|
33,500
|
16,200
|
43,900
|
18,200
|
32,300
|
|
Canada
|
150,500
|
211,100
|
149,300
|
281,300
|
157,400
|
211,800
|
Source: CMHC Housing Now – November 2009 and November 2008.
This seasonally adjusted data goes through stages of revision at different times of the year.
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Average MLS resale price for local markets
|
City
|
October 2008
|
October 2009
|
|
Halifax
|
$224,607
|
$235,465
|
|
Saint John, NB
|
$151,709
|
$178,632
|
|
Quebec
|
$198,357
|
$219,719
|
|
Montreal
|
$257,242
|
$284,024
|
|
Ottawa
|
$280,870
|
$320,561
|
|
Toronto
|
$353,018
|
$403,507
|
|
Hamilton/Burlington
|
$254,004
|
$296,253
|
|
Winnipeg
|
$190,374
|
$210,618
|
|
Saskatoon
|
$285,310
|
$274,759
|
|
Calgary
|
$388,565
|
$399,679
|
|
Edmonton
|
$317,744
|
$318,969
|
|
Vancouver
|
$556,682
|
$638,948
|
|
Victoria
|
$469,243
|
$481,500
|
Source: Canadian Real Estate Association
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Housing Affordability Index
Standard Two-Storey
|
Average Price
|
Qualifying Income($)
|
Affordability Measure
|
|
Region
|
Q3 2009
($)
|
Y/Y
% ch.
|
Q3 2009
|
Q3 2009
(%)
|
Q/Q
Ppt. ch.
|
Y/Y
Ppt. ch.
|
Avg. since '85
(%)
|
|
Canada
|
344,100
|
-0.3
|
79,100
|
45.8
|
1.2
|
-5.8
|
43.3
|
|
British Columbia
|
557,400
|
-1.2
|
113,600
|
67.6
|
2.9
|
-8.5
|
53.7
|
|
Alberta
|
368,200
|
-4.9
|
82,200
|
37.9
|
1.3
|
-7.5
|
38.5
|
|
Saskatchewan
|
305,500
|
-0.8
|
73,200
|
44.0
|
1.0
|
-4.6
|
37.6
|
|
Manitoba
|
244,900
|
3.5
|
61,300
|
37.5
|
0.3
|
-3.4
|
37.5
|
|
Ontario
|
362,100
|
-0.3
|
85,300
|
45.2
|
1.0
|
-5.8
|
44.0
|
|
Quebec
|
240,100
|
2.8
|
59,000
|
40.4
|
1.2
|
-3.7
|
39.0
|
|
Atlantic
|
210,000
|
1.3
|
55,000
|
35.9
|
0.4
|
-4.7
|
38.7
|
|
Toronto
|
522,600
|
0.2
|
115,300
|
57.8
|
1.9
|
-7.5
|
53.7
|
|
Montreal
|
305,800
|
0.7
|
71,300
|
47.4
|
0.8
|
-5.5
|
41.3
|
|
Vancouver
|
678,900
|
-1.9
|
135,500
|
74.2
|
4.3
|
-10.2
|
61.7
|
|
Ottawa
|
320,800
|
1.0
|
81,000
|
40.5
|
0.4
|
-4.4
|
39.5
|
|
Calgary
|
414,600
|
-4.7
|
88,100
|
38.5
|
2.0
|
-8.1
|
40.0
|
|
Edmonton
|
365,300
|
-2.6
|
83,100
|
38.9
|
0.9
|
-6.7
|
36.8
|
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Standard Condominium
|
Average Price
|
Qualifying Income($)
|
Affordability Measure
|
|
Region
|
Q3 2009
($)
|
Y/Y
% ch.
|
Q3 2009
|
Q3 2009
(%)
|
Q/Q
Ppt. ch.
|
Y/Y
Ppt. ch.
|
Avg. since '85
(%)
|
|
Canada
|
205,700
|
-1.0
|
47,600
|
27.6
|
0.5
|
-3.6
|
26.9
|
|
British Columbia
|
275,600
|
-0.3
|
57,100
|
34.0
|
1.2
|
-3.9
|
28.0
|
|
Alberta
|
219,300
|
-7.9
|
48,700
|
22.4
|
0.5
|
-5.2
|
22.1
|
|
Saskatchewan
|
186,200
|
-8.7
|
44,600
|
26.8
|
0.8
|
-4.7
|
24.1
|
|
Manitoba
|
130,100
|
4.8
|
33,400
|
20.5
|
0.3
|
-1.6
|
20.9
|
|
Ontario
|
217,200
|
-0.9
|
51,800
|
27.4
|
0.5
|
-3.6
|
27.9
|
|
Quebec
|
170,300
|
1.2
|
40,700
|
27.8
|
0.1
|
-3.0
|
27.0
|
|
Atlantic
|
149,800
|
4.8
|
37,700
|
24.6
|
0.3
|
-2.5
|
24.7
|
|
Toronto
|
292,700
|
-1.5
|
65,400
|
32.8
|
1.0
|
-4.7
|
31.2
|
|
Montreal
|
204,500
|
3.9
|
47,100
|
31.3
|
0.9
|
-2.8
|
29.0
|
|
Vancouver
|
351,500
|
0.4
|
70,600
|
38.7
|
1.7
|
-4.4
|
31.4
|
|
Ottawa
|
209,000
|
1.3
|
51,600
|
25.8
|
0.3
|
-2.8
|
23.6
|
|
Calgary
|
249,500
|
-7.3
|
52,700
|
23.0
|
0.3
|
-5.5
|
22.8
|
|
Edmonton
|
206,000
|
-6.8
|
46,800
|
21.9
|
0.5
|
-4.7
|
18.1
|
Source: RBC Financial Group Housing Affordability Index, November 2009. Index based on a 25% down payment and a 25 year mortgage loan at a five year fixed rate. The higher the index, the more difficult it is to afford a home. An affordability index of 50 means that homeownership costs including mortgage payments, utilities and property taxes take up half of a typical household's monthly pre-tax income.
|