Office: 165 Pretoria Avenue, Ottawa ON. K1S 1X1

Phone: 613.238.2801

Fax: 613.238.4583

email: roberthof@royallepage.ca

royal lepage

Current mortgage rates and news

Information provided by  

Laurin Team

 

 

 

 

 

 

Dominion Lending Centres Family Mortgage Group
Lic#12388

200-440 Laurier Ave W
Ottawa, ON K1R 7X6

Tel 613-845-0786
Fax 1-888-241-2980

gemma@thelaurinteam.com
kevin@thelaurinteam.com

Gemma Riley-Laurin
Mortgage Broker Lic# M08005023
Kevin Laurin
Mortgage Agent Lic# M08004955

 

 

     
     
     
     
     
     
     
     
     
     
     

 


 
Welcome to the March 2018 edition of the News & Rate Advisor
 
 
Current Discount Mortgage Rates for Mar 2018   Conventional1 High Ratio2
Variable Rate   2.70% 2.90%
2 Year   3.24% 3.24%
4 Year   3.54% 3.44%
5 Year   3.49% 3.24%
Prime Rate   3.45% 3.45%
Canadian Qualifying Rate Mar 2018
Rate 5.14%
Source: Bank of Canada

Current Posted Mortgage Rates Mar 2018 Mar 2017 Mar 2016
1 Year 3.34% 3.14% 3.14%
3 Year 4.15% 3.39% 3.39%
5 Year 5.14% 4.64% 4.64%

 


Source: Bank of Canada
Nationwide Building Permits Jan 2018 Jan 2017 Jan 2016
Residential $5,324,914,000 $5,092,960,000 $4,011,352,000
Commercial $3,088,836,000 $2,549,196,000 $2,385,097,000
Total $8,413,750,000 $7,642,156,000 $6,396,449,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Mar 2018 Mar 2017 Mar 2016
Bank Rate 1.50% 0.75% 0.75%
Prime Rate 3.45% 2.70% 2.70%

 


Source: Bank of Canada
Average House Prices by City Jan 2018 Jan 2017 Jan 2016
Yellowknife $372,550 $341,890 $343,856
Vancouver $1,056,500 $878,242 $1,083,177
Victoria $633,400 $589,082 $524,361
Edmonton $359,134 $355,841 $339,714
Calgary $426,500 $451,242 $439,552
Saskatoon $293,300 $335,121 $344,639
Regina $279,400 $297,532 $309,154
Toronto $743,200 $770,745 $631,092
Hamilton-Burlington $531,610 $516,128 $451,130
Ottawa-Carleton $370,100 $379,369 $356,696
Quebec City $263,531 $259,509 $245,777
Montreal $330,500 $351,255 $337,894
Fredericton $175,873 $174,058 $165,633
Saint John $183,373 $164,126 $162,181
Halifax-Dartmouth $291,070 $265,237 $262,027
Winnipeg $280,439 $272,553 $273,154

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Jan 2018 Jan 2017 Jan 2016
National $481,562 $470,253 $470,297
Yukon $326,619 $333,353 $312,440
Northwest Territories $372,550 $341,890 $343,856
British Columbia $721,061 $621,093 $752,906
Alberta $380,230 $383,040 $371,620
Saskatchewan $287,086 $288,703 $288,177
Manitoba $270,303 $267,068 $264,007
Ontario $543,988 $556,631 $466,053
Quebec $293,646 $283,984 $269,635
New Brunswick $168,522 $161,656 $150,538
Prince Edward Island $222,533 $188,246 $165,916
Nova Scotia $224,551 $202,794 $205,047
Newfoundland $243,824 $240,860 $255,091

 


Source: CREA – Most Recent Month Reported

 
 
 
Welcome to the February issue of the News & Rate Advisor
 
Current Discount Mortgage Rates for Feb 2018   Conventional1 High Ratio2
Variable Rate   2.46% 2.41%
2 Year   3.09% 3.09%
4 Year   3.39% 3.34%
5 Year   3.19% 3.14%
Prime Rate   3.45% 3.45%
Canadian Qualifying Rate Feb 2018
Rate 5.14%
Source: Bank of Canada

Current Posted Mortgage Rates Feb 2018 Feb 2017 Feb 2016
1 Year 3.34% 3.14% 3.14%
3 Year 4.15% 3.39% 3.39%
5 Year 5.14% 4.64% 4.64%

 


Source: Bank of Canada
Nationwide Building Permits Dec 2017 Dec 2016 Dec 2015
Residential $5,163,689,000 $4,937,251,000 $4,596,835,000
Commercial $2,895,203,000 $2,288,753,000 $2,473,950,000
Total $8,058,892,000 $7,226,004,000 $7,070,785,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Feb 2018 Feb 2017 Feb 2016
Bank Rate 1.50% 0.75% 0.75%
Prime Rate 3.45% 2.70% 2.70%

 


Source: Bank of Canada
Average House Prices by City Dec 2017 Dec 2016 Dec 2015
Yellowknife $422,572 $451,414 $327,707
Vancouver $1,050,300 $948,246 $980,974
Victoria $625,800 $585,267 $562,581
Edmonton $357,126 $357,916 $366,221
Calgary $427,400 $480,188 $451,297
Saskatoon $295,100 $338,147 $349,788
Regina $282,900 $311,909 $280,209
Toronto $743,500 $730,472 $609,110
Hamilton-Burlington $529,774 $481,997 $424,444
Ottawa-Carleton $369,400 $388,411 $359,777
Quebec City $274,743 $261,317 $267,352
Montreal $330,900 $360,174 $347,091
Fredericton $175,531 $175,379 $165,946
Saint John $295,482 $158,439 $152,762
Halifax-Dartmouth $298,755 $274,142 $283,075
Winnipeg $289,155 $279,651 $256,900

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Dec 2017 Dec 2016 Dec 2015
National $469,532 $470,661 $454,342
Yukon $432,462 $355,550 $340,083
Northwest Territories $422,572 $451,414 $327,707
British Columbia $733,744 $654,699 $700,943
Alberta $380,316 $395,694 $389,486
Saskatchewan $283,548 $289,944 $288,759
Manitoba $278,913 $273,327 $250,636
Ontario $559,102 $535,969 $450,512
Quebec $298,780 $289,551 $277,559
New Brunswick $158,014 $159,478 $154,176
Prince Edward Island $197,040 $186,573 $172,787
Nova Scotia $241,055 $213,313 $207,086
Newfoundland $252,029 $251,461 $267,093

 


Source: CREA – Most Recent Month Reported

Welcome to the December issue of the News & Rate Advisor.

Current Discount Mortgage Rates for Dec 2017   Conventional1 High Ratio2
Variable Rate   2.65% 2.40%
2 Year   2.99% 2.94%
4 Year   3.29% 3.04%
5 Year   3.25% 3.04%
Prime Rate   3.20% 3.20%
Canadian Qualifying Rate Dec 2017
Rate 4.99%
Source: Bank of Canada

Current Posted Mortgage Rates Dec 2017 Dec 2016 Dec 2015
1 Year 3.24% 3.14% 3.14%
3 Year 3.74% 3.39% 3.39%
5 Year 4.99% 4.64% 4.64%

 


Source: Bank of Canada
Nationwide Building Permits Oct 2017 Oct 2016 Oct 2015
Residential $4,940,171,000 $5,220,944,000 $4,876,246,000
Commercial $3,284,486,000 $2,549,673,000 $2,881,587,000
Total $8,224,657,000 $7,770,617,000 $7,757,833,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Dec 2017 Dec 2016 Dec 2015
Bank Rate 1.25% 0.75% 0.75%
Prime Rate 3.20% 2.70% 2.70%

 


Source: Bank of Canada
Average House Prices by City Oct 2017 Oct 2016 Oct 2015
Yellowknife $428,913 $308,310 $330,708
Vancouver $1,042,300 $891,705 $947,334
Victoria $620,400 $615,066 $543,459
Edmonton $370,484 $364,004 $371,756
Calgary $433,000 $450,279 $444,535
Saskatoon $299,900 $332,144 $342,553
Regina $289,000 $291,741 $316,025
Toronto $747,800 $762,975 $630,876
Hamilton-Burlington $527,991 $507,131 $436,562
Ottawa-Carleton $369,200 $366,639 $358,950
Quebec City $278,672 $269,925 $254,831
Montreal $329,300 $354,600 $339,436
Fredericton $169,754 $159,325 $176,788
Saint John $168,575 $178,673 $175,557
Halifax-Dartmouth $286,026 $279,611 $264,487
Winnipeg $294,843 $279,421 $271,759

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Oct 2017 Oct 2016 Oct 2015
National $481,922 $481,994 $454,976
Yukon $362,733 $313,723 $356,290
Northwest Territories $428,913 $308,310 $330,708
British Columbia $719,946 $606,787 $667,480
Alberta $395,429 $391,692 $384,381
Saskatchewan $280,330 $284,545 $292,949
Manitoba $284,952 $273,573 $264,739
Ontario $562,654 $561,896 $471,654
Quebec $307,745 $288,979 $275,701
New Brunswick $162,740 $160,651 $161,338
Prince Edward Island $217,182 $189,979 $163,236
Nova Scotia $227,245 $213,046 $207,657
Newfoundland $248,956 $254,207 $258,459

 


Source: CREA – Most Recent Month Reported
Welcome to the November issue of the News & Rate Advisor
 
Current Discount Mortgage Rates for Nov 2017   Conventional1 High Ratio2
Variable Rate   2.65% 2.40%
2 Year   2.99% 2.94%
4 Year   3.29% 3.04%
5 Year   3.25% 3.04%
Prime Rate   3.20% 3.20%
Canadian Qualifying Rate Nov 2017
Rate 4.99%
Source: Bank of Canada

Current Posted Mortgage Rates Nov 2017 Nov 2016 Nov 2015
1 Year 3.24% 3.14% 2.89%
3 Year 3.74% 3.39% 3.39%
5 Year 4.99% 4.64% 4.64%

 


Source: Bank of Canada
Nationwide Building Permits Sep 2017 Sep 2016 Sep 2015
Residential $4,804,802,000 $4,787,229,000 $4,191,832,000
Commercial $3,056,680,000 $2,244,709,000 $2,869,735,000
Total $7,861,482,000 $7,031,938,000 $7,061,567,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Nov 2017 Nov 2016 Nov 2015
Bank Rate 1.25% 0.75% 0.75%
Prime Rate 3.20% 2.70% 2.70%

 


Source: Bank of Canada
Average House Prices by City Sep 2017 Sep 2016 Sep 2015
Yellowknife $386,125 $402,761 $402,089
Vancouver $1,037,300 $864,566 $857,015
Victoria $620,700 $598,740 $507,560
Edmonton $370,252 $373,926 $368,874
Calgary $435,400 $469,818 $443,768
Saskatoon $326,700 $343,306 $324,410
Regina $320,000 $308,824 $303,025
Toronto $750,800 $755,755 $627,395
Hamilton-Burlington $543,927 $519,171 $449,233
Ottawa-Carleton $367,500 $360,786 $366,145
Quebec City $264,406 $264,652 $267,940
Montreal $327,600 $364,699 $343,452
Fredericton $169,036 $159,370 $175,982
Saint John $174,665 $179,350 $149,591
Halifax-Dartmouth $272,491 $307,239 $286,698
Winnipeg $288,334 $284,799 $274,541

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Sep 2017 Sep 2016 Sep 2015
National $487,095 $474,590 $433,649
Yukon $331,440 $335,446 $344,790
Northwest Territories $386,125 $402,761 $402,089
British Columbia $693,568 $585,844 $605,258
Alberta $390,485 $396,646 $381,758
Saskatchewan $284,625 $294,801 $281,982
Manitoba $280,026 $276,646 $264,534
Ontario $547,389 $550,305 $458,483
Quebec $298,115 $292,839 $281,896
New Brunswick $159,462 $157,794 $159,756
Prince Edward Island $188,458 $167,342 $146,079
Nova Scotia $215,209 $233,828 $245,777
Newfoundland $252,265 $245,751 $274,840

 


Source: CREA – Most Recent Month Reported

 

 

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Welcome to the October issue of the News & Rate Advisor
 
Current Discount Mortgage Rates for Oct 2017   Conventional1 High Ratio2
Variable Rate   2.35% 1.75%
2 Year   2.39% 2.14%
3 Year   2.59% 2.34%
4 Year   2.69% 2.54%
5 Year   2.79% 2.44%
Prime Rate   3.20% 3.20%
Canadian Qualifying Rate Oct 2017
Rate 4.89%
Source: Bank of Canada

Current Posted Mortgage Rates Oct 2017 Oct 2016 Oct 2015
1 Year 3.24% 3.14% 2.89%
3 Year 3.59% 3.39% 3.39%
5 Year 4.89% 4.64% 4.64%

 


Source: Bank of Canada
Nationwide Building Permits Aug 2017 Aug 2016 Aug 2015
Residential $4,872,302,000 $4,516,206,000 $4,733,125,000
Commercial $2,670,651,000 $2,856,502,000 $2,827,782,000
Total $7,542,953,000 $7,372,708,000 $7,560,907,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Oct 2017 Oct 2016 Oct 2015
Bank Rate 1.25% 0.75% 0.75%
Prime Rate 3.20% 2.70% 2.70%

 


Source: Bank of Canada
Average House Prices by City Aug 2017 Aug 2016 Aug 2015
Yellowknife $447,334 $388,119 $416,577
Vancouver $1,029,700 $833,065 $900,592
Victoria $620,700 $570,196 $544,862
Edmonton $373,438 $369,956 $372,256
Calgary $436,500 $456,663 $450,260
Saskatoon $316,700 $349,716 $339,426
Regina $313,000 $309,634 $311,318
Toronto $755,400 $710,410 $602,607
Hamilton-Burlington $554,507 $496,894 $464,101
Ottawa-Carleton $365,200 $369,055 $354,035
Quebec City $266,072 $279,780 $273,495
Montreal $326,400 $358,935 $342,010
Fredericton $166,135 $187,411 $167,100
Saint John $172,803 $165,661 $311,166
Halifax-Dartmouth $284,037 $281,977 $274,022
Winnipeg $297,897 $278,718 $276,397

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Aug 2017 Aug 2016 Aug 2015
National $472,247 $456,722 $433,367
Yukon $311,149 $341,597 $357,252
Northwest Territories $447,334 $388,119 $416,577
British Columbia $678,152 $569,281 $619,881
Alberta $392,359 $390,615 $388,551
Saskatchewan $293,995 $298,001 $292,583
Manitoba $287,794 $273,387 $269,321
Ontario $518,613 $518,586 $455,611
Quebec $298,158 $289,656 $280,253
New Brunswick $161,160 $168,737 $154,973
Prince Edward Island $195,270 $195,925 $157,949
Nova Scotia $223,738 $209,989 $220,161
Newfoundland $258,198 $265,521 $292,960

 


Source: CREA – Most Recent Month Reported

 



Welcome to the September issue of the News & Rate Advisor.
 
 
Current Discount Mortgage Rates for Sep 2017   Conventional1 High Ratio2
Variable Rate   2.35% 1.75%
2 Year   2.39% 2.14%
3 Year   2.59% 2.34%
4 Year   2.69% 2.54%
5 Year   2.79% 2.44%
Prime Rate   3.20% 3.20%
Canadian Qualifying Rate Sep 2017
Rate 4.84%
Source: Bank of Canada

Current Posted Mortgage Rates Sep 2017 Sep 2016 Sep 2015
1 Year 3.14% 3.14% 2.89%
3 Year 3.39% 3.39% 3.39%
5 Year 4.84% 4.64% 4.64%

 


Source: Bank of Canada
Nationwide Building Permits Jul 2017 Jul 2016 Jul 2015
Residential $5,010,106,000 $4,087,851,000 $5,005,523,000
Commercial $2,911,455,000 $2,554,845,000 $2,836,355,000
Total $7,921,561,000 $6,642,696,000 $7,841,878,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Sep 2017 Sep 2016 Sep 2015
Bank Rate 1.25% 0.75% 0.75%
Prime Rate 2.95% 2.70% 2.70%

 


Source: Bank of Canada
Average House Prices by City Jul 2017 Jul 2016 Jul 2015
Yellowknife $366,991 $388,352 $398,889
Vancouver $1,029,786 $1,007,687 $866,772
Victoria $644,510 $580,555 $519,379
Edmonton $383,624 $384,504 $372,910
Calgary $458,480 $469,325 $459,958
Saskatoon $325,718 $346,879 $350,246
Regina $319,595 $314,714 $309,696
Toronto $746,218 $709,825 $609,236
Hamilton-Burlington $536,595 $491,360 $434,730
Ottawa-Carleton $391,119 $374,431 $369,718
Quebec City $268,884 $266,578 $276,561
Montreal $378,401 $349,218 $341,594
Fredericton $187,119 $181,833 $178,479
Saint John $179,048 $168,266 $178,089
Halifax-Dartmouth $299,847 $292,511 $287,288
Winnipeg $294,216 $282,684 $281,684

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Jul 2017 Jul 2016 Jul 2015
National $478,696 $480,743 $437,699
Yukon $376,909 $344,863 $351,916
Northwest Territories $366,991 $388,352 $398,889
British Columbia $698,718 $663,411 $608,294
Alberta $396,946 $403,666 $394,977
Saskatchewan $291,399 $303,414 $305,431
Manitoba $283,978 $275,914 $273,164
Ontario $517,379 $517,831 $454,098
Quebec $303,083 $284,662 $278,760
New Brunswick $173,797 $164,961 $168,412
Prince Edward Island $192,605 $180,427 $171,140
Nova Scotia $228,399 $221,689 $217,236
Newfoundland $244,653 $252,846 $275,072

 


Source: CREA – Most Recent Month Reported

 News & Rate Advisor August 2017

  •  

    Current Discount Mortgage Rates for Aug 2017   Conventional1 High Ratio2
    Variable Rate   2.35% 1.75%
    2 Year   2.39% 2.14%
    3 Year   2.59% 2.34%
    4 Year   2.69% 2.54%
    5 Year   2.79% 2.44%
    Prime Rate   2.95% 2.95%
    Canadian Qualifying Rate Aug 2017
    Rate 4.84%
    Source: Bank of Canada

    Current Posted Mortgage Rates Aug 2017 Aug 2016 Aug 2015
    1 Year 3.14% 3.14% 2.89%
    3 Year 3.39% 3.39% 3.39%
    5 Year 4.84% 4.74% 4.64%

     


    Source: Bank of Canada
    Nationwide Building Permits Jun 2017 Jun 2016 Jun 2015
    Residential $5,049,684,000 $4,108,128,000 $4,598,442,000
    Commercial $3,012,341,000 $2,313,366,000 $3,189,988,000
    Total $8,062,025,000 $6,421,494,000 $7,788,430,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Aug 2017 Aug 2016 Aug 2015
    Bank Rate 1.00% 0.50% 0.75%
    Prime Rate 2.95% 2.70% 2.70%

     


    Source: Bank of Canada
    Average House Prices by City Jun 2017 Jun 2016 Jun 2015
    Yellowknife $414,505 $380,284 $449,567
    Vancouver $1,053,655 $1,026,207 $922,326
    Victoria $674,952 $587,908 $536,553
    Edmonton $393,212 $378,045 $378,050
    Calgary $483,106 $466,717 $465,965
    Saskatoon $338,709 $334,529 $350,689
    Regina $294,991 $321,726 $315,904
    Toronto $793,915 $746,546 $639,184
    Hamilton-Burlington $560,113 $513,971 $449,945
    Ottawa-Carleton $410,032 $378,389 $383,676
    Quebec City $277,041 $273,869 $270,850
    Montreal $373,780 $353,535 $341,085
    Fredericton $194,571 $189,239 $179,389
    Saint John $188,119 $179,633 $159,487
    Halifax-Dartmouth $290,008 $290,421 $291,212
    Winnipeg $302,900 $294,619 $281,349

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Jun 2017 Jun 2016 Jun 2015
    National $504,458 $503,301 $453,560
    Yukon $380,580 $351,768 $372,835
    Northwest Territories $414,505 $380,284 $449,567
    British Columbia $725,704 $694,925 $631,962
    Alberta $412,358 $397,269 $403,087
    Saskatchewan $285,811 $297,837 $302,741
    Manitoba $292,791 $284,798 $273,369
    Ontario $547,402 $544,009 $477,829
    Quebec $299,827 $287,637 $278,567
    New Brunswick $177,807 $170,044 $164,122
    Prince Edward Island $219,235 $192,115 $162,885
    Nova Scotia $240,776 $226,272 $164,122
    Newfoundland $258,235 $270,664 $280,605

     


    Source: CREA – Most Recent Month Reported

CURRENT INFORMATION ON RATES AND HOUSE PRICES ACROSS CANADA JUNE 2017

 

  • Current Discount Mortgage Rates for Jun 2017   Conventional1 High Ratio2
    Variable Rate   2.35% 1.75%
    2 Year   2.39% 2.14%
    3 Year   2.59% 2.34%
    4 Year   2.69% 2.54%
    5 Year   2.79% 2.44%
    Prime Rate   2.70% 2.70%
    Canadian Qualifying Rate Jun 2017
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates Jun 2017 Jun 2016 Jun 2015
    1 Year 3.14% 3.14% 2.89%
    3 Year 3.39% 3.39% 3.39%
    5 Year 4.64% 4.74% 4.64%

     


    Source: Bank of Canada
    Nationwide Building Permits Apr 2017 Apr 2016 Apr 2015
    Residential $4,474,425,000 $4,386,492,000 $4,539,491,000
    Commercial $2,582,341,000 $2,533,722,000 $3,296,020,000
    Total $7,056,766,000 $6,920,214,000 $7,835,511,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Jun 2017 Jun 2016 Jun 2015
    Bank Rate 0.75% 0.75% 1.00%
    Prime Rate 2.70% 2.70% 2.85%

     


    Source: Bank of Canada
    Average House Prices by City Apr 2017 Apr 2016 Apr 2015
    Yellowknife $391,750 $391,229 $457,465
    Vancouver $1,056,136 $1,091,767 $899,178
    Victoria $629,040 $606,554 $520,975
    Edmonton $377,774 $377,283 $377,270
    Calgary $475,516 $460,114 $455,155
    Saskatoon $346,486 $336,708 $336,062
    Regina $316,978 $317,098 $335,534
    Toronto $920,791 $739,082 $635,932
    Hamilton-Burlington $611,090 $514,746 $448,007
    Ottawa-Carleton $409,838 $381,699 $382,960
    Quebec City $265,833 $267,727 $272,159
    Montreal $364,373 $337,015 $333,943
    Fredericton $190,314 $183,605 $199,859
    Saint John $172,547 $168,826 $161,326
    Halifax-Dartmouth $306,240 $283,845 $280,529
    Winnipeg $302,983 $289,384 $292,456

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Apr 2017 Apr 2016 Apr 2015
    National $559,317 $508,097 $488,862
    Yukon $369,162 $357,965 $361,753
    Northwest Territories $391,750 $391,229 $457,465
    British Columbia $728,955 $743,640 $634,744
    Alberta $406,318 $393,285 $397,811
    Saskatchewan $300,719 $299,694 $304,433
    Manitoba $294,548 $278,862 $284,320
    Ontario $668,589 $540,608 $481,090
    Quebec $291,809 $276,219 $272,802
    New Brunswick $173,410 $166,267 $165,622
    Prince Edward Island $184,838 $176,886 $170,396
    Nova Scotia $241,474 $223,958 $213,633
    Newfoundland $254,131 $255,237 $276,760

     


    Source: CREA – Most Recent Month Reported

 INFORMATION FOR EARLIER MONTHS MAY BE SEEN AT THE END OF THIS PAGE

 

 


 

Some words from Gemma on the Prime Rate

March 1, 2017

At 10:00 am EST, Wednesday March 1, 2017, the Bank of Canada again maintained their overnight rate which means no change to your interest rate. As you most likely know, variable rate mortgages, lines of credit and student loans are all typically based on the Prime Rate.  Here is an update concerning the recent Bank of Canada announcement of the Overnight Rate, which in most cases impacts Prime Rate.

This is a great time to take advantage of such historically low rates and chat to a financial advisor about a Tax Free Savings Account or some RRSP contributions to trigger a potential income tax refund; you might have missed the RSP deadline for this year but it is never too late to start saving and planning for the future. If you don't have a financial advisor, let me know and I would be happy to recommend one to you.

On another note, are you carrying a balance on any lines of credit or credit cards right now where the interest rate is over 3%?   If you are, this is the perfect time to chat about a potential debt consolidation or refinance. Time to start saving you some unnecessary interest and getting to your mortgage burning party sooner! Maybe you are planning a renovation project soon or purchasing a second home or rental property. Talk to me about your options. I would be happy to make those plans a reality.

To continue with the Bank of Canada news, here is an excerpt from the announcement and what they had to say about their decision:

"Overall, recent data on the global and Canadian economies have been consistent with the Bank's projection of improving growth. In Canada, recent consumption and housing indicators suggest growth in the fourth quarter of 2016 may have been slightly stronger than expected. However, exports continue to face the ongoing competitiveness challenges described in the January Monetary Policy Report. The Canadian dollar and bond yields remain near levels observed at that time. While there have been recent gains in employment, subdued growth in wages and hours worked continue to reflect persistent economic slack in Canada, in contrast to the United States."

There are mixed messages with regard to positive growth versus a slow-down in some sectors. It is still anticipated that prime rates will not start increasing until well into 2017, but we are being given the heads up that they will start increasing eventually.  Remember that any increase to the prime rate since 1992 has only been by 0.25% at any one time, so you should not see a large significant increase all at once.

Fixed rates have not changed much since the last announcement and are around 2.64% to 2.89% for a five-year fixed term. It is important to remember that the prime rates and fixed term rates are impacted by two different sets of economic drivers and so increases in fixed rates do not always mean the same increase in prime rates and vice versa.

Based on this recent announcement, we anticipate that the prime rate will remain low for a while. I will be in touch again after the next announcement on April 12, 2017.

If you hear a friend or family member talking about going through a financially tough time, maybe I can help with some budgeting, credit counselling and debt consolidation options for them. It is also that time of year when many think about what they want to accomplish this year. If buying their first home is on the wish list, please pass my contact information on to them.  This would be very much appreciated.
Gemma


 

Understanding our mortgage rates

Insured vs Uninsured Mortgage

 Insured (CMHC or Genworth) Vs Uninsured (previously conventional 80% and less)

As a result of the increase of the capital requirements on the mortgage default insurers (CMHC, Genworth Financial and Canada Guaranty) by the Office of the Superintendent of Financial Institutions (OFSI) as of January 1st 2017, the mortgage default insurers have significantly increased the amount they charge the lenders for the insurance.

All mortgages securitized through CMHC's NHA MBS Program in Canada require either high ratio (Transactional) insurance paid by the borrower or low ratio (Bulk/ Portfolio) insurance paid by the lender. As a direct result, this change has significantly increased the cost of low ratio insurance paid by the lender. Furthermore, the price lenders now pay for low ratio insurance is based on the risk characteristics of the mortgage. As viewed by OSFI, mortgages that have a higher loan-to- value (LTV of 80-95%) and/or lower beacon score require the mortgage default insurers to hold more capital. Even if mortgages that have a lower loan-to-value (LTV) and/or higher beacon score require the mortgage default insurers to hold less capital, more capital is required prior to January 1, 2017.

 


 

Mortgage Insurance Premiums Hiked Once Again

January 26, 2017

If you are planning to buy a home this year and have less than 20% down payment, you may want to do so prior to March 17th.  The Mortgage Insurance suppliers have announced their rates are going up because of recent government changes introduced Jan 1st that effectively increase the cost of offering the insurance product.

So take advantage of what typically is a slower real estate market in the winter months and save yourself some money.

What does this mean for you?

On a $400,000 mortgage, it will cost $1,600 more if you need Mortgage Insurance (most mortgages over 80% loan to value)

Example of a 5% down payment  

Loan Amount $150,000 $250,000 $350,000  $450,000 $550,000 $850,000
Monthly Payment Increase $2.82 $4.70 $6.59 $8.47 $10.35 $15.98

*Premiums in Manitoba, Ontario and Quebec are subject to provincial sales tax – the sales tax cannot be added to the loan amount. Based on a 5 year term @ 2.94% and 25 year amortization

As the table shows, the monthly payment increase might not seem large, but over the life of your mortgage, it will cost you thousands!

Call Gemma today to find out what options you have and what programs are available for you.

Dominion Lending Centres Family Mortgage Group
Phone: (613) 845-0786
Cell: (613)290-0196
Email: gemma@thelaurinteam.com
http://www.thelaurinteam.com


 

Other Mortgage News

Not exactly hot off the press, but you may still wish to refer to these valuable comments on Finance Minister Bill Morneau's  announcement on how to slow the ever-soaring prices in Vancouver and Toronto.

https://dominionlending.ca/news/morneau-takes-big-guns-slow-housing/

For more information, contact
Gemma Riley-Laurin

Dominion Lending Centres Family Mortgage Group
Phone: (613) 845-0786
Cell: (613)290-0196
Email: gemma@thelaurinteam.com
http://www.thelaurinteam.com
gemma new logo

  • Current Discount Mortgage Rates for Jun 2017   Conventional1 High Ratio2
    Variable Rate   2.35% 1.75%
    2 Year   2.39% 2.14%
    3 Year   2.59% 2.34%
    4 Year   2.69% 2.54%
    5 Year   2.79% 2.44%
    Prime Rate   2.70% 2.70%
    Canadian Qualifying Rate Jun 2017
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates Jun 2017 Jun 2016 Jun 2015
    1 Year 3.14% 3.14% 2.89%
    3 Year 3.39% 3.39% 3.39%
    5 Year 4.64% 4.74% 4.64%

     


    Source: Bank of Canada
    Nationwide Building Permits Apr 2017 Apr 2016 Apr 2015
    Residential $4,474,425,000 $4,386,492,000 $4,539,491,000
    Commercial $2,582,341,000 $2,533,722,000 $3,296,020,000
    Total $7,056,766,000 $6,920,214,000 $7,835,511,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Jun 2017 Jun 2016 Jun 2015
    Bank Rate 0.75% 0.75% 1.00%
    Prime Rate 2.70% 2.70% 2.85%

     


    Source: Bank of Canada
    Average House Prices by City Apr 2017 Apr 2016 Apr 2015
    Yellowknife $391,750 $391,229 $457,465
    Vancouver $1,056,136 $1,091,767 $899,178
    Victoria $629,040 $606,554 $520,975
    Edmonton $377,774 $377,283 $377,270
    Calgary $475,516 $460,114 $455,155
    Saskatoon $346,486 $336,708 $336,062
    Regina $316,978 $317,098 $335,534
    Toronto $920,791 $739,082 $635,932
    Hamilton-Burlington $611,090 $514,746 $448,007
    Ottawa-Carleton $409,838 $381,699 $382,960
    Quebec City $265,833 $267,727 $272,159
    Montreal $364,373 $337,015 $333,943
    Fredericton $190,314 $183,605 $199,859
    Saint John $172,547 $168,826 $161,326
    Halifax-Dartmouth $306,240 $283,845 $280,529
    Winnipeg $302,983 $289,384 $292,456

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Apr 2017 Apr 2016 Apr 2015
    National $559,317 $508,097 $488,862
    Yukon $369,162 $357,965 $361,753
    Northwest Territories $391,750 $391,229 $457,465
    British Columbia $728,955 $743,640 $634,744
    Alberta $406,318 $393,285 $397,811
    Saskatchewan $300,719 $299,694 $304,433
    Manitoba $294,548 $278,862 $284,320
    Ontario $668,589 $540,608 $481,090
    Quebec $291,809 $276,219 $272,802
    New Brunswick $173,410 $166,267 $165,622
    Prince Edward Island $184,838 $176,886 $170,396
    Nova Scotia $241,474 $223,958 $213,633
    Newfoundland $254,131 $255,237 $276,760

     


    Source: CREA – Most Recent Month Reported

 

 

  • News & Rate Advisor – May 2017

    Current Discount Mortgage Rates for May 2017   Conventional1 High Ratio2
    Variable Rate   2.35% 1.75%
    2 Year   2.39% 2.14%
    3 Year   2.59% 2.34%
    4 Year   2.69% 2.54%
    5 Year   2.79% 2.44%
    Prime Rate   2.70% 2.70%
    Canadian Qualifying Rate May 2017
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates May 2017 May 2016 May 2015
    1 Year 3.14% 3.14% 2.89%
    3 Year 3.39% 3.39% 3.39%
    5 Year 4.64% 4.64% 4.64%

     


    Source: Bank of Canada
    Nationwide Building Permits Mar 2017 Mar 2016 Mar 2015
    Residential $4,583,975,000 $4,425,639,000 $4,418,463,000
    Commercial $2,417,659,000 $2,486,166,000 $2,448,640,000
    Total $7,001,634,000 $6,911,805,000 $6,867,103,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates May 2017 May 2016 May 2015
    Bank Rate 0.75% 0.75% 1.00%
    Prime Rate 2.70% 2.70% 2.85%

     


    Source: Bank of Canada
    Average House Prices by City Mar 2017 Mar 2016 Mar 2015
    Yellowknife $394,677 $406,620 $377,244
    Vancouver $991,690 $1,093,267 $891,652
    Victoria $640,802 $575,858 $508,807
    Edmonton $371,680 $379,524 $373,005
    Calgary $472,491 $455,220 $457,422
    Saskatoon $343,112 $336,425 $337,982
    Regina $316,341 $307,609 $300,148
    Toronto $916,567 $688,181 $613,933
    Hamilton-Burlington $607,846 $486,008 $443,706
    Ottawa-Carleton $388,400 $368,798 $362,918
    Quebec City $256,929 $259,851 $262,214
    Montreal $359,708 $336,138 $331,216
    Fredericton $182,850 $177,441 $175,632
    Saint John $166,430 $154,700 $301,769
    Halifax-Dartmouth $294,246 $281,822 $277,377
    Winnipeg $298,329 $287,692 $281,269

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Mar 2017 Mar 2016 Mar 2015
    National $548,517 $508,567 $439,144
    Yukon $352,774 $322,267 $307,800
    Northwest Territories $394,677 $406,620 $377,244
    British Columbia $690,597 $771,620 $641,799
    Alberta $404,804 $392,145 $398,856
    Saskatchewan $294,787 $297,823 $292,847
    Manitoba $289,503 $277,202 $272,344
    Ontario $672,584 $521,178 $466,404
    Quebec $288,691 $274,616 $270,245
    New Brunswick $162,099 $154,371 $150,807
    Prince Edward Island $187,977 $194,094 $165,693
    Nova Scotia $222,411 $223,520 $226,613
    Newfoundland $251,555 $258,563 $273,645

     


    Source: CREA – Most Recent Month Reported

 

  • News & Rate Advisor April 2017

    Current Discount Mortgage Rates for Apr 2017   Conventional1 High Ratio2
    Variable Rate   2.35% 1.75%
    2 Year   2.39% 2.14%
    3 Year   2.59% 2.34%
    4 Year   2.69% 2.54%
    5 Year   2.79% 2.44%
    Prime Rate   2.70% 2.70%
    Canadian Qualifying Rate Apr 2017
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates Apr 2017 Apr 2016 Apr 2015
    1 Year 3.14% 3.14% 2.89%
    3 Year 3.39% 3.39% 3.39%
    5 Year 4.64% 4.64% 4.64%

     


    Source: Bank of Canada
    Nationwide Building Permits Feb 2017 Feb 2016 Feb 2015
    Residential $5,014,795,000 $5,014,795,000 $4,212,864,000
    Commercial $2,435,250,000 $2,435,250,000 $69,529,740,000
    Total $7,450,045,000 $7,450,045,000 $73,742,604,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Apr 2017 Apr 2016 Apr 2015
    Bank Rate 0.75% 0.75% 1.00%
    Prime Rate 2.70% 2.70% 2.85%

     


    Source: Bank of Canada
    Average House Prices by City Feb 2017 Feb 2016 Feb 2015
    Yellowknife $335,300 $348,997 $296,200
    Vancouver $995,583 $1,104,133 $879,069
    Victoria $642,204 $545,911 $490,377
    Edmonton $359,468 $363,266 $362,432
    Calgary $464,834 $453,175 $443,744
    Saskatoon $326,714 $323,761 $354,400
    Regina $300,874 $308,946 $303,355
    Toronto $875,983 $685,278 $596,163
    Hamilton-Burlington $556,630 $456,083 $437,386
    Ottawa-Carleton $382,268 $356,180 $359,759
    Quebec City $252,303 $260,012 $255,698
    Montreal $348,635 $334,815 $328,862
    Fredericton $161,590 $165,374 $180,394
    Saint John $178,351 $154,408 $171,269
    Halifax-Dartmouth $279,362 $266,869 $280,035
    Winnipeg $288,097 $278,087 $266,837

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Feb 2017 Feb 2016 Feb 2015
    National $519,521 $503,057 $431,812
    Yukon $323,076 $312,640 $300,846
    Northwest Territories $335,300 $348,997 $296,200
    British Columbia $688,011 $779,419 $639,405
    Alberta $389,943 $388,037 $385,804
    Saskatchewan $280,384 $285,649 $298,574
    Manitoba $288,263 $272,609 $262,441
    Ontario $634,341 $511,967 $453,646
    Quebec $280,333 $272,937 $267,054
    New Brunswick $163,362 $149,942 $169,840
    Prince Edward Island $212,033 $156,895 $164,774
    Nova Scotia $209,889 $214,378 $217,881
    Newfoundland $248,317 $267,311 $282,350

     


    Source: CREA – Most Recent Month Reported

 

  • Welcome to the March issue of the News & Rate Advisor.

    Current Discount Mortgage Rates – March 2017   Conventional1 High Ratio2
    Variable Rate   2.35% 1.90%
    2 Year   2.39% 2.14%
    3 Year   2.59% 2.34%
    4 Year   2.69% 2.54%
    5 Year   2.79% 2.64%
    Prime Rate   2.70% 2.70%
    Canadian Qualifying Rate Mar 2017
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates Mar 2017 Mar 2016 Mar 2015
    1 Year 3.14% 3.14% 2.89%
    3 Year 3.39% 3.39% 3.39%
    5 Year 4.64% 4.64% 4.74%

     


    Source: Bank of Canada
    Nationwide Building Permits Jan 2017 Jan 2016 Jan 2015
    Residential $5,069,529,000 $4,011,352,000 $4,056,063,000
    Commercial $2,545,973,000 $2,385,097,000 $2,111,941,000
    Total $7,615,502,000 $6,396,449,000 $6,168,004,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Mar 2017 Mar 2016 Mar 2015
    Bank Rate 0.75% 0.75% 1.00%
    Prime Rate 2.70% 2.70% 2.85%

     


    Source: Bank of Canada
    Average House Prices by City Jan 2017 Jan 2016 Jan 2015
    Yellowknife $341,890 $343,856 $268,910
    Vancouver $878,242 $1,083,177 $827,558
    Victoria $589,082 $524,361 $470,693
    Edmonton $355,841 $339,714 $362,394
    Calgary $451,242 $439,552 $437,908
    Saskatoon $335,121 $344,639 $346,536
    Regina $297,532 $309,154 $294,488
    Toronto $770,745 $631,092 $552,575
    Hamilton-Burlington $516,128 $451,130 $417,700
    Ottawa-Carleton $379,369 $356,696 $349,672
    Quebec City $259,509 $245,777 $257,952
    Montreal $351,255 $337,894 $324,210
    Fredericton $174,058 $165,633 $164,370
    Saint John $164,126 $162,181 $143,466
    Halifax-Dartmouth $265,237 $262,027 $270,120
    Winnipeg $272,553 $273,154 $261,612

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Jan 2017 Jan 2016 Jan 2015
    National $470,253 $470,297 $401,143
    Yukon $333,353 $312,440 $268,615
    Northwest Territories $341,890 $343,856 $268,910
    British Columbia $621,093 $752,906 $593,155
    Alberta $383,040 $371,620 $381,757
    Saskatchewan $288,703 $288,177 $294,885
    Manitoba $267,068 $264,007 $252,434
    Ontario $556,631 $466,053 $417,723
    Quebec $283,984 $269,635 $263,714
    New Brunswick $161,656 $150,538 $145,592
    Prince Edward Island $188,246 $165,916 $159,448
    Nova Scotia $202,794 $205,047 $205,589
    Newfoundland $240,860 $255,091 $283,043

     


    Source: CREA – Most Recent Month Reported

 

 

 

NEWS AND RATE ADVISOR  FEBRUARY 2017

  • Current Discount Mortgage Rates Feb 2017 Conventional1 High Ratio2
    Variable Rate   2.35% 1.90%
    2 Year   2.39% 2.14%
    3 Year   2.59% 2.34%
    4 Year   2.69% 2.54%
    5 Year   2.79% 2.64%
    Prime Rate   2.70% 2.70%
    Canadian Qualifying Rate Feb 2017
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates Feb 2017 Feb 2016 Feb 2015
    1 Year 3.14% 3.14% 2.89%
    3 Year 3.39% 3.39% 3.39%
    5 Year 4.64% 4.64% 4.74%

     


    Source: Bank of Canada
    Nationwide Building Permits Dec 2016 Dec 2015 Dec 2014
    Residential $4,888,505,000 $4,596,835,000 $4,414,127,000
    Commercial $2,279,740,000 $2,473,950,000 $2,620,878,000
    Total $7,168,245,000 $7,070,785,000 $7,035,005,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Feb 2017 Feb 2016 Feb 2015
    Bank Rate 0.75% 0.75% 1.00%
    Prime Rate 2.70% 2.70% 2.85%

     


    Source: Bank of Canada
    Average House Prices by City Dec 2016 Dec 2015 Dec 2014
    Yellowknife $451,414 $327,707 $302,100
    Vancouver $948,246 $980,974 $819,384
    Victoria $585,267 $562,581 $498,716
    Edmonton $357,916 $366,221 $359,479
    Calgary $480,188 $451,297 $452,968
    Saskatoon $338,147 $349,788 $340,608
    Regina $311,909 $280,209 $302,969
    Toronto $730,472 $609,110 $556,602
    Hamilton-Burlington $481,997 $424,444 $387,922
    Ottawa-Carleton $388,411 $359,777 $349,479
    Quebec City $261,317 $267,352 $265,819
    Montreal $360,174 $347,091 $340,489
    Fredericton $175,379 $165,946 $156,604
    Saint John $158,439 $152,762 $175,840
    Halifax-Dartmouth $274,142 $283,075 $270,945
    Winnipeg $279,651 $256,900 $271,489

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Dec 2016 Dec 2015 Dec 2014
    National $470,661 $454,342 $405,233
    Yukon $355,550 $340,083 $285,447
    Northwest Territories $451,414 $327,707 $302,100
    British Columbia $654,699 $700,943 $585,718
    Alberta $395,694 $389,486 $390,528
    Saskatchewan $289,944 $288,759 $291,524
    Manitoba $273,327 $250,636 $263,072
    Ontario $535,969 $450,512 $417,767
    Quebec $289,551 $277,559 $273,291
    New Brunswick $159,478 $154,176 $155,078
    Prince Edward Island $186,573 $172,787 $169,877
    Nova Scotia $213,313 $207,086 $207,429
    Newfoundland $251,461 $267,093 $273,769

     


    Source: CREA – Most Recent Month Reported

     

 

NEWS AND RATE ADVISOR  JANUARY 2017

  •  

    Current Discount Mortgage Rates Jan 2017
    Variable Rate 2.20%
    1 Year 2.94%
    2 Year 2.19%
    3 Year 2.29%
    4 Year 2.49%
    5 Year 2.49%
    7 Year 3.94%
    10 Year 4.25%
    Prime Rate 2.70%
    Canadian Qualifying Rate Jan 2017
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates Jan 2017 Jan 2016 Jan 2015
    1 Year 3.14% 3.14% 3.14%
    3 Year 3.39% 3.39% 3.44%
    5 Year 4.64% 4.64% 4.79%

     


    Source: Bank of Canada
    Nationwide Building Permits Nov 2016 Nov 2015 Nov 2014
    Residential $5,139,055,000 $4,002,881,000 $4,382,756,000
    Commercial $2,625,521,000 $2,214,399,000 $2,218,621,000
    Total $7,764,576,000 $6,217,280,000 $6,601,377,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Jan 2017 Jan 2016 Jan 2015
    Bank Rate 0.75% 0.75% 1.00%
    Prime Rate 2.70% 2.70% 2.85%

     


    Source: Bank of Canada
    Average House Prices by City Nov 2016 Nov 2015 Nov 2014
    Yellowknife $423,222 $423,788 $205,500
    Vancouver $895,084 $930,652 $801,450
    Victoria $639,687 $495,209 $466,453
    Edmonton $373,174 $369,559 $381,371
    Calgary $468,659 $444,959 $462,031
    Saskatoon $335,660 $339,465 $346,015
    Regina $297,980 $309,240 $298,290
    Toronto $776,684 $632,685 $577,936
    Hamilton-Burlington $510,475 $431,566 $398,590
    Ottawa-Carleton $379,343 $363,117 $358,196
    Quebec City $259,562 $262,765 $265,825
    Montreal $366,956 $346,723 $345,032
    Fredericton $172,925 $158,857 $146,242
    Saint John $168,865 $175,829 $191,082
    Halifax-Dartmouth $282,700 $296,205 $266,362
    Winnipeg $279,557 $278,134 $266,945

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Nov 2016 Nov 2015 Nov 2014
    National $489,591 $456,186 $413,649
    Yukon $289,312 $343,942 $242,694
    Northwest Territories $423,222 $423,788 $205,500
    British Columbia $625,871 $668,317 $574,694
    Alberta $395,648 $385,430 $407,071
    Saskatchewan $292,303 $294,110 $295,487
    Manitoba $282,511 $271,045 $261,180
    Ontario $571,696 $471,224 $433,561
    Quebec $291,232 $283,560 $279,014
    New Brunswick $158,295 $155,127 $160,766
    Prince Edward Island $165,406 $167,875 $180,487
    Nova Scotia $218,332 $216,717 $206,251
    Newfoundland $265,395 $271,918 $273,177

     


    Source: CREA – Most Recent Month Reported

 

 

 

NEWS AND RATE ADVISOR DECEMBER 2016

  •  

    Current Discount Mortgage Rates Dec 2016
    Variable Rate 2.20%
    1 Year 2.94%
    2 Year 2.19%
    3 Year 2.29%
    4 Year 2.49%
    5 Year 2.49%
    7 Year 3.94%
    10 Year 4.25%
    Prime Rate 2.70%
    Canadian Qualifying Rate Dec 2016
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates Dec 2016 Dec 2015 Dec 2014
    1 Year 3.14% 3.14% 3.14%
    3 Year 3.39% 3.39% 3.44%
    5 Year 4.64% 4.64% 4.79%

     


    Source: Bank of Canada
    Nationwide Building Permits Oct 2016 Oct 2015 Oct 2014
    Residential $5,157,202,000 $4,876,246,000 $4,494,206,000
    Commercial $2,485,188,000 $2,881,587,000 $3,144,482,000
    Total $7,642,390,000 $7,757,833,000 $7,638,688,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Dec 2016 Dec 2015 Dec 2014
    Bank Rate 0.75% 0.75% 1.25%
    Prime Rate 2.70% 2.70% 3.00%

     


    Source: Bank of Canada
    Average House Prices by City Oct 2016 Oct 2015 Oct 2014
    Yellowknife $308,310 $330,708 $405,332
    Vancouver $891,705 $947,334 $819,336
    Victoria $615,066 $543,459 $505,859
    Edmonton $364,004 $371,756 $365,520
    Calgary $450,279 $444,535 $465,047
    Saskatoon $332,144 $342,553 $349,322
    Regina $291,741 $316,025 $331,161
    Toronto $762,975 $630,876 $587,505
    Hamilton-Burlington $507,131 $436,562 $420,565
    Ottawa-Carleton $366,639 $358,950 $357,887
    Quebec City $269,925 $254,831 $258,406
    Montreal $354,600 $339,436 $344,273
    Fredericton $159,325 $176,788 $169,063
    Saint John $178,673 $175,557 $158,041
    Halifax-Dartmouth $279,611 $264,487 $264,447
    Winnipeg $279,421 $271,759 $270,605

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Oct 2016 Oct 2015 Oct 2014
    National $481,994 $454,976 $419,699
    Yukon $313,723 $356,290 $275,750
    Northwest Territories $308,310 $330,708 $405,332
    British Columbia $606,787 $667,480 $575,504
    Alberta $391,692 $384,381 $400,027
    Saskatchewan $284,545 $292,949 $306,812
    Manitoba $273,573 $264,739 $263,159
    Ontario $561,896 $471,654 $445,109
    Quebec $288,979 $275,701 $277,677
    New Brunswick $160,651 $161,338 $153,312
    Prince Edward Island $189,979 $163,236 $174,871
    Nova Scotia $213,046 $207,657 $202,749
    Newfoundland $254,207 $258,459 $266,346

     


    Source: CREA – Most Recent Month Reported

 

 

NEWS AND RATE ADVISOR – NOVEMBER 2016

  •  

    Current Discount Mortgage Rates Nov 2016
    Variable Rate 2.20%
    1 Year 2.94%
    2 Year 2.19%
    3 Year 2.29%
    4 Year 2.49%
    5 Year 2.49%
    7 Year 3.94%
    10 Year 4.25%
    Prime Rate 2.70%
    Canadian Qualifying Rate Nov 2016
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates Nov 2016 Nov 2015 Nov 2014
    1 Year 3.14% 2.89% 3.14%
    3 Year 3.39% 3.39% 3.44%
    5 Year 4.64% 4.64% 4.79%

     


    Source: Bank of Canada
    Nationwide Building Permits Sep 2016 Sep 2015 Sep 2014
    Residential $4,634,812,000 $4,191,832,000 $4,479,646,000
    Commercial $2,219,252,000 $2,869,735,000 $2,999,611,000
    Total $6,854,064,000 $7,061,567,000 $7,479,257,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Nov 2016 Nov 2015 Nov 2014
    Bank Rate 0.75% 0.75% 1.25%
    Prime Rate 2.70% 2.70% 3.00%

     


    Source: Bank of Canada
    Average House Prices by City Sep 2016 Sep 2015 Sep 2014
    Yellowknife $402,761 $402,089 $394,444
    Vancouver $864,566 $857,015 $836,735
    Victoria $598,740 $507,560 $509,667
    Edmonton $373,926 $368,874 $372,673
    Calgary $469,818 $443,768 $461,099
    Saskatoon $343,306 $324,410 $333,888
    Regina $308,824 $303,025 $314,756
    Toronto $755,755 $627,395 $573,676
    Hamilton-Burlington $519,171 $449,233 $411,699
    Ottawa-Carleton $360,786 $366,145 $357,753
    Quebec City $264,652 $267,940 $263,681
    Montreal $364,699 $343,452 $329,144
    Fredericton $159,370 $175,982 $175,441
    Saint John $179,350 $149,591 $155,384
    Halifax-Dartmouth $307,239 $286,698 $273,026
    Winnipeg $284,799 $274,541 $263,859

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Sep 2016 Sep 2015 Sep 2014
    National $474,590 $433,649 $408,795
    Yukon $335,446 $344,790 $330,857
    Northwest Territories $402,761 $402,089 $394,444
    British Columbia $585,844 $605,258 $574,641
    Alberta $396,646 $381,758 $399,810
    Saskatchewan $294,801 $281,982 $294,060
    Manitoba $276,646 $264,534 $256,098
    Ontario $550,305 $458,483 $430,522
    Quebec $292,839 $281,896 $270,497
    New Brunswick $157,794 $159,756 $154,338
    Prince Edward Island $167,342 $146,079 $161,794
    Nova Scotia $233,828 $245,777 $204,260
    Newfoundland $245,751 $274,840 $264,650

     


    Source: CREA – Most Recent Month Reported

 

 

 

NEWS AND RATE ADVISOR – OCTOBER 2016

Current Discount Mortgage Rates Oct 2016
Variable Rate 2.20%
1 Year 2.94%
2 Year 2.19%
3 Year 2.29%
4 Year 2.49%
5 Year 2.49%
7 Year 3.94%
10 Year 4.25%
Prime Rate 2.70%
Canadian Qualifying Rate Oct 2016
Rate 4.64%
Source: Bank of Canada

Current Posted Mortgage Rates Oct 2016 Oct 2015 Oct 2014
1 Year 3.14% 2.89% 3.14%
3 Year 3.39% 3.39% 3.44%
5 Year 4.64% 4.64% 4.79%

 


Source: Bank of Canada
Nationwide Building Permits Aug 2016 Aug 2015 Aug 2014
Residential $4,480,605,000 $4,733,125,000 $4,170,031,000
Commercial $2,850,387,000 $2,827,782,000 $2,480,272,000
Total $7,330,992,000 $7,560,907,000 $6,650,303,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Oct 2016 Oct 2015 Oct 2014
Bank Rate 0.75% 0.75% 1.25%
Prime Rate 2.70% 2.70% 3.00%

 


Source: Bank of Canada
Average House Prices by City Aug 2016 Aug 2015 Aug 2014
Yellowknife $388,119 $416,577 $411,733
Vancouver $833,065 $900,592 $802,763
Victoria $570,196 $544,862 $497,608
Edmonton $369,956 $372,256 $368,597
Calgary $456,663 $450,260 $454,994
Saskatoon $349,716 $339,426 $333,434
Regina $309,634 $311,318 $294,338
Toronto $710,410 $602,607 $546,303
Hamilton-Burlington $496,894 $464,101 $397,938
Ottawa-Carleton $369,055 $354,035 $361,730
Quebec City $279,780 $273,495 $278,517
Montreal $358,935 $342,010 $328,745
Fredericton $187,411 $167,100 $180,401
Saint John $165,661 $311,166 $166,548
Halifax-Dartmouth $281,977 $274,022 $276,080
Winnipeg $278,718 $276,397 $270,246

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Aug 2016 Aug 2015 Aug 2014
National $456,722 $433,367 $398,618
Yukon $341,597 $357,252 $299,839
Northwest Territories $388,119 $416,577 $411,733
British Columbia $569,281 $619,881 $560,318
Alberta $390,615 $388,551 $397,701
Saskatchewan $298,001 $292,583 $285,476
Manitoba $273,387 $269,321 $262,685
Ontario $518,586 $455,611 $408,847
Quebec $289,656 $280,253 $271,679
New Brunswick $168,737 $154,973 $162,110
Prince Edward Island $195,925 $157,949 $146,055
Nova Scotia $209,989 $220,161 $210,370
Newfoundland $265,521 $292,960 $293,548

 


Source: CREA – Most Recent Month Reported

 

 

 

 

NEWS AND RATE ADVISOR – SEPTEMBER 2016

  •  

    Current Discount Mortgage Rates Sep 2016
    Variable Rate 2.20%
    1 Year 2.94%
    2 Year 2.19%
    3 Year 2.29%
    4 Year 2.49%
    5 Year 2.49%
    7 Year 3.94%
    10 Year 4.25%
    Prime Rate 2.70%
    Canadian Qualifying Rate Sep 2016
    Rate 4.74%
    Source: Bank of Canada

    Current Posted Mortgage Rates Sep 2016 Sep 2015 Sep 2014
    1 Year 3.14% 2.89% 3.14%
    3 Year 3.39% 3.39% 3.75%
    5 Year 4.64% 4.64% 4.79%

     


    Source: Bank of Canada
    Nationwide Building Permits Jul 2016 Jul 2015 Jul 2014
    Residential $4,027,366,000 $5,005,523,000 $4,933,591,000
    Commercial $2,442,494,000 $2,836,355,000 $4,212,465,000
    Total $6,469,860,000 $7,841,878,000 $9,146,056,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Sep 2016 Sep 2015 Sep 2014
    Bank Rate 0.75% 0.75% 1.25%
    Prime Rate 2.70% 2.70% 3.00%

     


    Source: Bank of Canada
    Average House Prices by City Jul 2016 Jul 2015 Jul 2014
    Yellowknife $388,352 $398,889 $393,815
    Vancouver $1,007,687 $866,772 $805,061
    Victoria $580,555 $519,379 $496,282
    Edmonton $384,504 $372,910 $362,091
    Calgary $469,325 $459,958 $460,790
    Saskatoon $346,879 $350,246 $350,699
    Regina $314,714 $309,696 $327,104
    Toronto $709,825 $609,236 $550,700
    Hamilton-Burlington $491,360 $434,730 $412,694
    Ottawa-Carleton $374,431 $369,718 $358,600
    Quebec City $266,578 $276,561 $274,862
    Montreal $349,218 $341,594 $338,988
    Fredericton $181,833 $178,479 $167,455
    Saint John $168,266 $178,089 $182,918
    Halifax-Dartmouth $292,511 $287,288 $287,288
    Winnipeg $282,684 $281,684 $268,817

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Jul 2016 Jul 2015 Jul 2014
    National $480,743 $437,699 $401,585
    Yukon $344,863 $351,916 $278,518
    Northwest Territories $388,352 $398,889 $393,815
    British Columbia $663,411 $608,294 $548,162
    Alberta $403,666 $394,977 $395,552
    Saskatchewan $303,414 $305,431 $304,816
    Manitoba $275,914 $273,164 $264,171
    Ontario $517,831 $454,098 $416,938
    Quebec $284,662 $278,760 $276,194
    New Brunswick $164,961 $168,412 $164,146
    Prince Edward Island $180,427 $171,140 $153,964
    Nova Scotia $221,689 $217,236 $224,287
    Newfoundland $252,846 $275,072 $294,815

     


    Source: CREA – Most Recent Month Reported

 

 

NEWS AND RATE ADVISOR –  AUGUST 2016

  •  

    Current Discount Mortgage Rates Aug 2016
    Variable Rate 2.20%
    1 Year 2.94%
    2 Year 2.19%
    3 Year 2.29%
    4 Year 2.49%
    5 Year 2.49%
    7 Year 3.94%
    10 Year 4.25%
    Prime Rate 2.70%
    Canadian Qualifying Rate Aug 2016
    Rate 4.74%
    Source: Bank of Canada

    Current Posted Mortgage Rates Aug 2016 Aug 2015 Aug 2014
    1 Year 3.14% 2.89% 3.14%
    3 Year 3.39% 3.39% 3.75%
    5 Year 4.74% 4.64% 4.79%

     


    Source: Bank of Canada
    Nationwide Building Permits Jun 2016 Jun 2015 Jun 2014
    Residential $4,109,287,000 $4,598,442,000 $4,207,446,000
    Commercial $2,298,509,000 $3,189,988,000 $3,989,804,000
    Total $6,407,796,000 $7,788,430,000 $8,197,250,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Aug 2016 Aug 2015 Aug 2014
    Bank Rate 0.50% 0.75% 1.25%
    Prime Rate 2.70% 2.70% 3.00%

     


    Source: Bank of Canada
    Average House Prices by City Jun 2016 Jun 2015 Jun 2014
    Yellowknife $380,284 $449,567 $465,619
    Vancouver $1,026,207 $922,326 $796,714
    Victoria $587,908 $536,553 $496,225
    Edmonton $378,045 $378,050 $371,839
    Calgary $466,717 $465,965 $466,994
    Saskatoon $334,529 $350,689 $345,773
    Regina $321,726 $315,904 $307,830
    Toronto $746,546 $639,184 $568,953
    Hamilton-Burlington $513,971 $449,945 $409,195
    Ottawa-Carleton $378,389 $383,676 $365,366
    Quebec City $273,869 $270,850 $267,564
    Montreal $353,535 $341,085 $332,462
    Fredericton $189,239 $179,389 $192,433
    Saint John $179,633 $159,487 $161,224
    Halifax-Dartmouth $290,421 $291,212 $277,838
    Winnipeg $294,619 $281,349 $280,112

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Jun 2016 Jun 2015 Jun 2014
    National $503,301 $453,560 $413,215
    Yukon $351,768 $372,835 $291,994
    Northwest Territories $380,284 $449,567 $465,619
    British Columbia $694,925 $631,962 $556,977
    Alberta $397,269 $403,087 $407,166
    Saskatchewan $297,837 $302,741 $301,741
    Manitoba $284,798 $273,369 $274,173
    Ontario $544,009 $477,829 $436,620
    Quebec $287,637 $278,567 $274,069
    New Brunswick $170,044 $164,122 $166,208
    Prince Edward Island $192,115 $162,885 $150,886
    Nova Scotia $226,272 $164,122 $204,071
    Newfoundland $270,664 $280,605 $294,158

     


    Source: CREA – Most Recent Month Reported

 

 

 

NEWS AND RATE ADVISOR –  JULY 2016

  •  
    Current Discount Mortgage Rates July 2016
    Variable Rate 2.35%
    1 Year 2.29%
    2 Year 2.24%
    3 Year 2.29%
    4 Year 2.49%
    5 Year 2.49%
    7 Year 3.44%
    10 Year 2.84%
    Prime Rate 2.70%
    Canadian Qualifying Rate July 2016
    Rate 4.74%
    Source: Bank of Canada

    Current Posted Mortgage Rates Jujy 2016 July 2015 July 2014
    1 Year 3.14% 2.89% 3.14%
    3 Year 3.39% 3.39% 3.75%
    5 Year 4.74% 4.64% 4.79%

     


    Source: Bank of Canada
    Nationwide Building Permits May 2016 May 2015 May 2014
    Residential $4,339,934,000 $3,941,034,000 $4,172,131,000
           
           

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates July 2016 July 2015 July 2014
    Bank Rate 0.50% 0.75% 1.25%
    Prime Rate 2.70% 2.70% 3.00%

     


    Source: Bank of Canada
    Average House Prices by City May 2016 May 2015 May2014
    Yellowknife $439,610 $374,363 $462,143
    Vancouver $1,055,495 $905,701 $814,418
    Victoria $585,994 $527,770 $496,378
    Edmonton $382,695 $381,111 $371,871
    Calgary $476,886 $465,941 $465,579
    Saskatoon $338,153 $345,907 $338,195
    Regina $326,656 $320,393 $317,662
    Toronto $751,908 $649,599 $585,204
    Hamilton-Burlington $497,792 $447,019 $406,007
    Ottawa-Carleton $384,212 $386,331 $383,168
    Quebec City $266,269 $268,538 $270,824
    Montreal $354,533 $338,685 $335,937
    Fredericton $208,115 $179,677 $196,656
    Saint John $165,762 $169,400 $183,755
    Halifax-Dartmouth $294,493 $293,734 $290,587
    Winnipeg $290,063 $287,587 $287,026

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Apr 2016 Apr 2015 Apr 2014
    National $508,097 $488,862 $409,708
    Yukon $357,965 $361,753 $284,811
    Northwest Territories $391,229 $457,465 $404,724
    British Columbia $743,640 $634,744 $561,613
    Alberta $393,285 $397,811 $398,105
    Saskatchewan $299,694 $304,433 $297,283
    Manitoba $278,862 $284,320 $270,908
    Ontario $540,608 $481,090 $446,441
    Quebec $276,219 $272,802 $267,697
    New Brunswick $166,267 $165,622 $161,821
    Prince Edward Island $176,886 $170,396 $167,050
    Nova Scotia $223,958 $213,633 $219,808
    Newfoundland $255,237 $276,760 $279,071

     


    Source: CREA – Most Recent Month Reported

NEWS AND RATE ADVISOR –  JUNE 2016

  • Welcome to the June issue of the News & Rate Advisor.

    Current Discount Mortgage Rates Jun 2016
    Variable Rate 2.35%
    1 Year 2.94%
    2 Year 2.24%
    3 Year 2.44%
    4 Year 2.49%
    5 Year 2.64%
    7 Year 3.94%
    10 Year 4.25%
    Prime Rate 2.85%
    Canadian Qualifying Rate Jun 2016
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates Jun 2016 Jun 2015 Jun 2014
    1 Year 3.14% 2.89% 3.14%
    3 Year 3.39% 3.39% 3.75%
    5 Year 4.64% 4.64% 4.79%

     


    Source: Bank of Canada
    Nationwide Building Permits Apr 2016 Apr 2015 Apr 2014
    Residential $4,345,727,000 $4,539,491,000 $3,777,241,000
    Commercial $2,547,595,000 $3,296,020,000 $2,327,825,000
    Total $6,893,322,000 $7,835,511,000 $6,105,066,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Jun 2016 Jun 2015 Jun 2014
    Bank Rate 0.75% 1.00% 1.25%
    Prime Rate 2.70% 2.85% 3.00%

     


    Source: Bank of Canada
    Average House Prices by City Apr 2016 Apr 2015 Apr 2014
    Yellowknife $391,229 $457,465 $404,724
    Vancouver $1,091,767 $899,178 $801,171
    Victoria $606,554 $520,975 $508,496
    Edmonton $377,283 $377,270 $365,045
    Calgary $460,114 $455,155 $457,509
    Saskatoon $336,708 $336,062 $338,810
    Regina $317,098 $335,534 $317,176
    Toronto $739,082 $635,932 $577,898
    Hamilton-Burlington $514,746 $448,007 $414,736
    Ottawa-Carleton $381,699 $382,960 $374,232
    Quebec City $267,727 $272,159 $260,063
    Montreal $337,015 $333,943 $325,809
    Fredericton $183,605 $199,859 $185,127
    Saint John $168,826 $161,326 $154,000
    Halifax-Dartmouth $283,845 $280,529 $281,451
    Winnipeg $289,384 $292,456 $278,432

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Apr 2016 Apr 2015 Apr 2014
    National $508,097 $488,862 $409,708
    Yukon $357,965 $361,753 $284,811
    Northwest Territories $391,229 $457,465 $404,724
    British Columbia $743,640 $634,744 $561,613
    Alberta $393,285 $397,811 $398,105
    Saskatchewan $299,694 $304,433 $297,283
    Manitoba $278,862 $284,320 $270,908
    Ontario $540,608 $481,090 $446,441
    Quebec $276,219 $272,802 $267,697
    New Brunswick $166,267 $165,622 $161,821
    Prince Edward Island $176,886 $170,396 $167,050
    Nova Scotia $223,958 $213,633 $219,808
    Newfoundland $255,237 $276,760 $279,071

     


    Source: CREA – Most Recent Month Reported

 

NEWS AND RATE ADVISOR –  MAY 2016

  • Discount Mortgage Rates May 2016
    Variable Rate 2.35%
    1 Year 2.94%
    2 Year 2.24%
    3 Year 2.44%
    4 Year 2.49%
    5 Year 2.64%
    7 Year 3.94%
    10 Year 4.25%
    Prime Rate 2.85%
    Canadian Qualifying Rate May 2016
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates May 2016 May 2015 May 2014
    1 Year 3.14% 2.89% 3.14%
    3 Year 3.39% 3.39% 3.75%
    5 Year 4.64% 4.64% 4.79%

     


    Source: Bank of Canada
    Nationwide Building Permits Mar 2016 Mar 2015 Mar 2014
    Residential $4,416,588,000 $4,418,463,000 $3,672,691,000
    Commercial $2,442,053,000 $2,448,640,000 $2,300,869,000
    Total $6,858,641,000 $6,867,103,000 $5,973,560,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates May 2016 May 2015 May 2014
    Bank Rate 0.75% 1.00% 1.25%
    Prime Rate 2.70% 2.85% 3.00%

     


    Source: Bank of Canada
    Average House Prices by City Mar 2016 Mar 2015 Mar 2014
    Yellowknife $406,620 $377,244 $328,945
    Vancouver $1,093,267 $891,652 $801,543
    Victoria $575,858 $508,807 $493,323
    Edmonton $379,524 $373,005 $361,870
    Calgary $455,220 $457,422 $462,994
    Saskatoon $336,425 $337,982 $344,600
    Regina $307,609 $300,148 $328,781
    Toronto $688,181 $613,933 $557,684
    Hamilton-Burlington $486,008 $443,706 $410,553
    Ottawa-Carleton $368,798 $362,918 $359,286
    Quebec City $259,851 $262,214 $252,400
    Montreal $336,138 $331,216 $320,558
    Fredericton $177,441 $175,632 $175,007
    Saint John $154,700 $301,769 $169,978
    Halifax-Dartmouth $281,822 $277,377 $268,333
    Winnipeg $287,692 $281,269 $278,527

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Mar 2016 Mar 2015 Mar 2014
    National $508,567 $439,144 $401,419
    Yukon $322,267 $307,800 $328,954
    Northwest Territories $406,620 $377,244 $328,945
    British Columbia $771,620 $641,799 $562,316
    Alberta $392,145 $398,856 $402,933
    Saskatchewan $297,823 $292,847 $304,428
    Manitoba $277,202 $272,344 $269,865
    Ontario $521,178 $466,404 $435,046
    Quebec $274,616 $270,245 $264,197
    New Brunswick $154,371 $150,807 $156,795
    Prince Edward Island $194,094 $165,693 $174,311
    Nova Scotia $223,520 $226,613 $213,336
    Newfoundland $258,563 $273,645 $288,865

     


    Source: CREA – Most Recent Month Reported

NEWS AND RATE ADVISOR –  APRIL 2016

  • Current Discount Mortgage Rates Apr 2016
    Variable Rate 2.35%
    1 Year 2.94%
    2 Year 2.24%
    3 Year 2.44%
    4 Year 2.49%
    5 Year 2.64%
    7 Year 3.94%
    10 Year 4.25%
    Prime Rate 2.85%
    Canadian Qualifying Rate Apr 2016
    Rate 4.64%
    Source: Bank of Canada

    Current Posted Mortgage Rates Apr 2016 Apr 2015 Apr 2014
    1 Year 3.14% 2.89% 3.14%
    3 Year 3.39% 3.39% 3.75%
    5 Year 4.64% 4.64% 4.79%

     


    Source: Bank of Canada
    Nationwide Building Permits Feb 2016 Feb 2015 Feb 2014
    Residential $4,211,104,000 $4,145,650,000 $3,674,001,000
    Commercial $3,175,138,000 $2,006,125,000 $2,498,291,000
    Total $7,386,242,000 $6,151,775,000 $6,172,292,000

     


    Source: Stats Canada – preliminary figures
    Current Bank of Canada Rate & Prime Rates Apr 2016 Apr 2015 Apr 2014
    Bank Rate 0.75% 1.00% 1.25%
    Prime Rate 2.70% 2.85% 3.00%

     


    Source: Bank of Canada
    Average House Prices by City Feb 2016 Feb 2015 Feb 2014
    Yellowknife $348,997 $296,200 $447,080
    Vancouver $1,104,133 $879,069 $846,978
    Victoria $545,911 $490,377 $483,720
    Edmonton $363,266 $362,432 $359,973
    Calgary $453,175 $443,744 $460,338
    Saskatoon $323,761 $354,400 $335,562
    Regina $308,946 $303,355 $300,667
    Toronto $685,278 $596,163 $553,193
    Hamilton-Burlington $456,083 $437,386 $398,239
    Ottawa-Carleton $356,180 $359,759 $354,619
    Quebec City $260,012 $255,698 $263,239
    Montreal $334,815 $328,862 $320,993
    Fredericton $165,374 $180,394 $181,612
    Saint John $154,408 $171,269 $162,556
    Halifax-Dartmouth $266,869 $280,035 $282,285
    Winnipeg $278,087 $266,837 $264,636

     


    Source: CREA – Most Recent Month Reported
    Average House Prices by Province Feb 2016 Feb 2015 Feb 2014
    National $503,057 $431,812 $406,372
    Yukon $312,640 $300,846 $331,352
    Northwest Territories $348,997 $296,200 $447,080
    British Columbia $779,419 $639,405 $611,688
    Alberta $388,037 $385,804 $407,540
    Saskatchewan $285,649 $298,574 $293,192
    Manitoba $272,609 $262,441 $257,016
    Ontario $511,967 $453,646 $423,691
    Quebec $272,937 $267,054 $263,661
    New Brunswick $149,942 $169,840 $159,201
    Prince Edward Island $156,895 $164,774 $164,176
    Nova Scotia $214,378 $217,881 $218,261
    Newfoundland $267,311 $282,350 $308,851

     


    Source: CREA – Most Recent Month Reported

 

 

 

NEWS AND RATE ADVISOR –  MARCH 2016

Current Discount Mortgage Rates Mar 2016
Variable Rate 2.35%
1 Year 2.94%
2 Year 2.24%
3 Year 2.44%
4 Year 2.49%
5 Year 2.64%
7 Year 3.94%
10 Year 4.25%
Prime Rate 2.85%
Canadian Qualifying Rate Mar 2016
Rate 4.64%
Source: Bank of Canada

Current Posted Mortgage Rates Mar 2016 Mar 2015 Mar 2014
1 Year 3.14% 2.89% 3.14%
3 Year 3.39% 3.39% 3.75%
5 Year 4.64% 4.74% 4.99%

 


Source: Bank of Canada
Nationwide Building Permits Jan 2016 Jan 2015 Jan 2014
Residential $6,374,941,000 $4,056,063,000 $4,593,131,000
Commercial $-2,354,484,000 $2,111,941,000 $2,362,257,000
Total $4,020,457,000 $6,168,004,000 $6,955,388,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Mar 2016 Mar 2015 Mar 2014
Bank Rate 0.75% 1.00% 1.25%
Prime Rate 2.70% 2.85% 3.00%

 


Source: Bank of Canada
Average House Prices by City Jan 2016 Jan 2015 Jan 2014
Yellowknife $343,856 $268,910 $321,250
Vancouver $1,083,177 $827,558 $812,536
Victoria $524,361 $470,693 $491,772
Edmonton $339,714 $362,394 $343,545
Calgary $439,552 $437,908 $444,153
Saskatoon $344,639 $346,536 $332,133
Regina $309,154 $294,488 $335,213
Toronto $631,092 $552,575 $526,528
Hamilton-Burlington $451,130 $417,700 $386,451
Ottawa-Carleton $356,696 $349,672 $348,001
Quebec City $245,777 $257,952 $260,721
Montreal $337,894 $324,210 $318,374
Fredericton $165,633 $164,370 $170,771
Saint John $162,181 $143,466 $176,351
Halifax-Dartmouth $262,027 $270,120 $264,780
Winnipeg $273,154 $261,612 $262,683

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Jan 2016 Jan 2015 Jan 2014
National $470,297 $401,143 $388,553
Yukon $312,440 $268,615 $345,954
Northwest Territories $343,856 $268,910 $321,250
British Columbia $752,906 $593,155 $565,036
Alberta $371,620 $381,757 $388,073
Saskatchewan $288,177 $294,885 $299,081
Manitoba $264,007 $252,434 $254,481
Ontario $466,053 $417,723 $402,239
Quebec $269,635 $263,714 $262,729
New Brunswick $150,538 $145,592 $160,451
Prince Edward Island $165,916 $159,448 $159,972
Nova Scotia $205,047 $205,589 $201,714
Newfoundland $255,091 $283,043 $279,236

 


Source: CREA – Most Recent Month Reported

 

 

NEWS AND RATE ADVISOR –  FEBRUARY 2016

 
Current Discount Mortgage Rates Feb 2016
Variable Rate 2.35%
1 Year 2.94%
2 Year 2.24%
3 Year 2.44%
4 Year 2.49%
5 Year 2.64%
7 Year 3.94%
10 Year 4.25%
Prime Rate 2.85%
Canadian Qualifying Rate Feb 2016
Rate 4.64%
Source: Bank of Canada

Current Posted Mortgage Rates Feb 2016 Feb 2015 Feb 2014
1 Year 3.14% 2.89% 3.14%
3 Year 3.39% 3.39% 3.75%
5 Year 4.64% 4.74% 5.24%

 


Source: Bank of Canada
Nationwide Building Permits Dec 2015 Dec 2014 Dec 2013
Residential $4,653,518,000 $4,414,127,000 $3,643,632,000
Commercial $2,269,391,000 $2,620,878,000 $2,793,178,000
Total $6,922,909,000 $7,035,005,000 $6,436,810,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Feb 2016 Feb 2015 Feb 2014
Bank Rate 0.75% 1.00% 1.25%
Prime Rate 2.70% 2.85% 3.00%

 


Source: Bank of Canada
Average House Prices by City Dec 2015 Dec 2014 Dec 2013
Yellowknife $327,707 $302,100 $444,817
Vancouver $980,974 $819,384 $785,574
Victoria $562,581 $498,716 $477,792
Edmonton $366,221 $359,479 $347,103
Calgary $451,297 $452,968 $439,389
Saskatoon $349,788 $340,608 $328,407
Regina $280,209 $302,969 $291,755
Toronto $609,110 $556,602 $520,398
Hamilton-Burlington $424,444 $387,922 $371,037
Ottawa-Carleton $359,777 $349,479 $341,793
Quebec City $267,352 $265,819 $261,123
Montreal $347,091 $340,489 $320,693
Fredericton $165,946 $156,604 $153,743
Saint John $152,762 $175,840 $190,728
Halifax-Dartmouth $283,075 $270,945 $269,797
Winnipeg $256,900 $271,489 $298,338

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Dec 2015 Dec 2014 Dec 2013
National $454,342 $405,233 $390,034
Yukon $340,083 $285,447 $361,867
Northwest Territories $327,707 $302,100 $444,817
British Columbia $700,943 $585,718 $568,419
Alberta $389,486 $390,528 $380,477
Saskatchewan $288,759 $291,524 $278,764
Manitoba $250,636 $263,072 $286,571
Ontario $450,512 $417,767 $395,698
Quebec $277,559 $273,291 $264,690
New Brunswick $154,176 $155,078 $160,867
Prince Edward Island $172,787 $169,877 $149,021
Nova Scotia $207,086 $207,429 $208,555
Newfoundland $267,093 $273,769 $289,279

 


Source: CREA – Most Recent Month Reported

 

 

 

 

NEWS AND RATE ADVISOR –  JANUARY 2016

 

Current Discount Mortgage Rates Jan 2016
Variable Rate 2.10%
1 Year 2.94%
2 Year 2.24%
3 Year 2.44%
4 Year 2.49%
5 Year 2.64%
7 Year 3.94%
10 Year 4.25%
Prime Rate 2.85%
Canadian Qualifying Rate Jan 2016
Rate No rate defined for this month
Source: Bank of Canada
Current Posted Mortgage Rates Jan 2016 Jan 2015 Jan 2014
1 Year 0.00% 3.14% 3.14%
3 Year 0.00% 3.44% 3.75%
5 Year 0.00% 4.79% 5.24%

 


Source: Bank of Canada
Nationwide Building Permits Nov 2015 Nov 2014 Nov 2013
Residential $4,008,339,000 $4,382,756,000 $4,081,721,000
Commercial $2,226,367,000 $2,218,621,000 $2,679,245,000
Total $6,234,706,000 $6,601,377,000 $6,760,966,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Jan 2016 Jan 2015 Jan 2014
Bank Rate 0.75% 1.00% 1.25%
Prime Rate 2.70% 2.85% 3.00%

 


Source: Bank of Canada
Average House Prices by City Nov 2015 Nov 2014 Nov 2013
Yellowknife $423,788 $205,500 $341,343
Vancouver $930,652 $801,450 $774,932
Victoria $495,209 $466,453 $454,703
Edmonton $369,559 $381,371 $339,703
Calgary $444,959 $462,031 $445,114
Saskatoon $339,465 $346,015 $334,440
Regina $309,240 $298,290 $306,631
Toronto $632,685 $577,936 $538,881
Hamilton-Burlington $431,566 $398,590 $368,947
Ottawa-Carleton $363,117 $358,196 $359,082
Quebec City $262,765 $265,825 $261,123
Montreal $346,723 $345,032 $320,693
Fredericton $158,857 $146,242 $159,892
Saint John $175,829 $191,082 $170,126
Halifax-Dartmouth $296,205 $266,362 $267,717
Winnipeg $278,134 $266,945 $261,832

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Nov 2015 Nov 2014 Nov 2013
National $456,186 $413,649 $391,085
Yukon $343,942 $242,694 $353,498
Northwest Territories $423,788 $205,500 $341,343
British Columbia $668,317 $574,694 $557,586
Alberta $385,430 $407,071 $385,217
Saskatchewan $294,110 $295,487 $290,859
Manitoba $271,045 $261,180 $255,636
Ontario $471,224 $433,561 $408,251
Quebec $283,560 $279,014 $264,690
New Brunswick $155,127 $160,766 $156,787
Prince Edward Island $167,875 $180,487 $151,363
Nova Scotia $216,717 $206,251 $209,997
Newfoundland $271,918 $273,177 $282,123

 


Source: CREA – Most Recent Month Reported

 

 

NEWS AND RATE ADVISOR – DECEMBER 2015

Current Discount Mortgage Rates Dec 2015
Variable Rate 2.10%
1 Year 2.94%
2 Year 2.24%
3 Year 2.44%
4 Year 2.49%
5 Year 2.64%
7 Year 3.94%
10 Year 4.25%
Prime Rate 2.85%
Canadian Qualifying Rate Dec 2015
Rate 4.64%
Source: Bank of Canada
Current Posted Mortgage Rates Dec 2015 Dec 2014 Dec 2013
1 Year 3.14% 3.14% 3.14%
3 Year 3.39% 3.44% 3.95%
5 Year 4.64% 4.79% 5.34%

 


Source: Bank of Canada
Nationwide Building Permits Oct 2015 Oct 2014 Oct 2013
Residential $4,841,850,000 $4,494,206,000 $4,430,635,000
Commercial $2,863,541,000 $3,144,482,000 $2,806,537,000
Total $7,705,391,000 $7,638,688,000 $7,237,172,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Dec 2015 Dec 2014 Dec 2013
Bank Rate 0.75% 1.25% 1.25%
Prime Rate 2.70% 3.00% 3.00%

 


Source: Bank of Canada
Average House Prices by City Oct 2015 Oct 2014 Oct 2013
Yellowknife $330,708 $405,332 $402,000
Vancouver $947,334 $819,336 $775,542
Victoria $543,459 $505,859 $473,820
Edmonton $371,756 $365,520 $332,461
Calgary $444,535 $465,047 $436,216
Saskatoon $342,553 $349,322 $331,750
Regina $316,025 $331,161 $316,810
Toronto $630,876 $587,505 $539,058
Hamilton-Burlington $436,562 $420,565 $384,534
Ottawa-Carleton $358,950 $357,887 $363,240
Quebec City $254,831 $258,406 $263,803
Montreal $339,436 $344,273 $333,610
Fredericton $176,788 $169,063 $175,968
Saint John $175,557 $158,041 $153,697
Halifax-Dartmouth $264,487 $264,447 $265,339
Winnipeg $271,759 $270,605 $271,946

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Oct 2015 Oct 2014 Oct 2013
National $454,976 $419,699 $391,820
Yukon $356,290 $275,750 $352,932
Northwest Territories $330,708 $405,332 $402,000
British Columbia $667,480 $575,504 $540,432
Alberta $384,381 $400,027 $377,084
Saskatchewan $292,949 $306,812 $289,890
Manitoba $264,739 $263,159 $264,148
Ontario $471,654 $445,109 $413,408
Quebec $275,701 $277,677 $273,436
New Brunswick $161,338 $153,312 $155,414
Prince Edward Island $163,236 $174,871 $154,576
Nova Scotia $207,657 $202,749 $203,144
Newfoundland $258,459 $266,346 $272,267

 


Source: CREA – Most Recent Month Reported

 

NEWS AND RATE ADVISOR – NOVEMBER 2015

 

Current Discount Mortgage Rates Nov 2015
Variable Rate 2.10%
1 Year 2.94%
2 Year 2.24%
3 Year 2.44%
4 Year 2.49%
5 Year 2.64%
7 Year 3.94%
10 Year 4.25%
Prime Rate 2.85%
* Rates subject to change and OAC.
Canadian Qualifying Rate Nov 2015
Rate 4.64%
Source: Bank of Canada
Current Posted Mortgage Rates Nov 2015 Nov 2014 Nov 2013
1 Year 2.89% 3.14% 3.14%
3 Year 3.39% 3.44% 3.95%
5 Year 4.64% 4.79% 5.34%

 


Source: Bank of Canada
Nationwide Building Permits Sep 2015 Sep 2014 Sep 2013
Residential $4,182,262,000 $4,479,646,000 $4,142,346,000
Commercial $2,872,345,000 $2,999,611,000 $2,557,605,000
Total $7,054,607,000 $7,479,257,000 $6,699,951,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Nov 2015 Nov 2014 Nov 2013
Bank Rate 0.75% 1.25% 1.25%
Prime Rate 2.70% 3.00% 3.00%

 


Source: Bank of Canada
Average House Prices by City Sep 2015 Sep 2014 Sep 2013
Yellowknife $402,089 $394,444 $341,514
Vancouver $857,015 $836,735 $786,522
Victoria $507,560 $509,667 $486,744
Edmonton $368,874 $372,673 $349,923
Calgary $443,768 $461,099 $435,934
Saskatoon $324,410 $333,888 $338,309
Regina $303,025 $314,756 $317,273
Toronto $627,395 $573,676 $533,797
Hamilton-Burlington $449,233 $411,699 $390,638
Ottawa-Carleton $366,145 $357,753 $348,788
Quebec City $267,940 $263,681 $266,353
Montreal $343,452 $329,144 $322,246
Fredericton $175,982 $175,441 $169,623
Saint John $149,591 $155,384 $173,240
Halifax-Dartmouth $286,698 $273,026 $268,286
Winnipeg $274,541 $263,859 $256,380

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Sep 2015 Sep 2014 Sep 2013
National $433,649 $408,795 $385,906
Yukon $344,790 $330,857 $263,490
Northwest Territories $402,089 $394,444 $341,514
British Columbia $605,258 $574,641 $536,682
Alberta $381,758 $399,810 $381,308
Saskatchewan $281,982 $294,060 $286,496
Manitoba $264,534 $256,098 $249,148
Ontario $458,483 $430,522 $403,347
Quebec $281,896 $270,497 $267,131
New Brunswick $159,756 $154,338 $159,702
Prince Edward Island $146,079 $161,794 $143,354
Nova Scotia $245,777 $204,260 $209,567
Newfoundland $274,840 $264,650 $269,036

 


Source: CREA – Most Recent Month Reported

 

 

 

NEWS AND RATE ADVISOR – OCTOBER 2015

Current Discount Mortgage Rates Oct 2015
Variable Rate 2.10%
1 Year 2.94%
2 Year 2.24%
3 Year 2.44%
4 Year 2.49%
5 Year 2.64%
7 Year 3.94%
10 Year 4.25%
Prime Rate 2.85%
Canadian Qualifying Rate Oct 2015
Rate 4.64%
Source: Bank of Canada
Current Posted Mortgage Rates Oct 2015 Oct 2014 Oct 2013
1 Year 2.89% 3.14% 3.14%
3 Year 3.39% 3.44% 3.95%
5 Year 4.64% 4.79% 5.34%

 


Source: Bank of Canada
Nationwide Building Permits Aug 2015 Aug 2014 Aug 2013
Residential $4,749,968,000 $4,170,031,000 $3,938,247,000
Commercial $2,798,437,000 $2,480,272,000 $2,495,214,000
Total $7,548,405,000 $6,650,303,000 $6,433,461,000

 


Source: Stats Canada – preliminary figures
Current Bank of Canada Rate & Prime Rates Oct 2015 Oct 2014 Oct 2013
Bank Rate 0.75% 1.25% 1.25%
Prime Rate 2.70% 3.00% 3.00%

 


Source: Bank of Canada
Average House Prices by City Aug 2015 Aug 2014 Aug 2013
Yellowknife $416,577 $411,733 $318,363
Vancouver $900,592 $802,763 $784,567
Victoria $544,862 $497,608 $479,978
Edmonton $372,256 $368,597 $348,758
Calgary $450,260 $454,994 $432,576
Saskatoon $339,426 $333,434 $327,281
Regina $311,318 $294,338 $311,860
Toronto $602,607 $546,303 $503,094
Hamilton-Burlington $464,101 $397,938 $376,284
Ottawa-Carleton $354,035 $361,730 $348,822
Quebec City $273,495 $278,517 $268,104
Montreal $342,010 $328,745 $327,165
Fredericton $167,100 $180,401 $177,192
Saint John $311,166 $166,548 $176,632
Halifax-Dartmouth $274,022 $276,080 $272,069
Winnipeg $276,397 $270,246 $261,666

 


Source: CREA – Most Recent Month Reported
Average House Prices by Province Aug 2015 Aug 2014 Aug 2013
National $433,367 $398,618 $378,369
Yukon $357,252 $299,839 $362,507
Northwest Territories $416,577 $411,733 $318,363
British Columbia $619,881 $560,318 $533,400
Alberta $388,551 $397,701 $381,642
Saskatchewan $292,583 $285,476 $286,809
Manitoba $269,321 $262,685 $253,297
Ontario $455,611 $408,847 $386,444
Quebec $280,253 $271,679 $269,421
New Brunswick $154,973 $162,110 $164,824
Prince Edward Island $157,949 $146,055 $159,432
Nova Scotia $220,161 $210,370 $212,268
Newfoundland $292,960 $293,548 $288,660

 


Source: CREA – Most Recent Month Reported