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August Mortgage Statistics

August 1, 2007 by Gordon McCallum

Today the most recent real estate and mortgage statistics, as prepared by the Canadian Association of Accredited Mortgage Professionals was released.  This issue highlights trends in interest rates, bond yields, housing starts and prices for major centres across Canada.  The full report is below.

August 1, 2007


Welcome to the August issue of CAAMP Stats. For more information visit www.caamp.org


Bank of Canada Interest Rate
May 29, 2007 4.25%
July 10, 2007 4.50%
September 5, 2007 Next meeting date
Source: Bank of Canada

Bank Prime Lending Rate

May 30, 2007 6.00%
July 11, 2007 6.25%
September 6, 2007Next meeting date
Source: Bank of Canada

US Federal Reserve Board Discount Rate

May 9, 2007 5.25%
June 28, 2007 5.25%
August 7, 2007Next meeting date
Source: US Federal Reserve
Exchange Rate ($CDN/$US)
Exchange Rate $CDN/$US
$CDN/$US June 28, 2007 0.9386
$CDN/$USJuly 13, 2007 0.9537
$CDN/$US July 30, 2007 0.9360
Source:Bank of Canada
Government of Canada Bonds
Bond Type
June 27, 2007
July 11, 2007
July 25, 2007
1 Year Treasury Bill
4.73%
4.71%
4.79%
3 Year Benchmark Bond Yield
4.66%
4.64%
4.67%
5 Year Benchmark Bond Yield
4.62%
4.61%
4.63%
10 Year Benchmark Bond Yield
4.62%
4.61%
4.58%
Source: Bank of Canada
Total New Housing Starts (Seasonable adjusted and annualized)
Province
April 2007
May 2007
June 2007
Newfoundland/Labrador
2,300
2,200
2,400
PEI
900
600
800
Nova Scotia
3,100
4,100
4,600
New Brunswick
4,000
4,300
3,900
Quebec
48,200
49,600
54,900
Ontario
63,100
75,800
62,000
Manitoba
4,100
7,500
5,100
Saskatchewan
5,600
6,200
7,500
Alberta
52,600
47,500
45,700
British Columbia
34,900
37,400
38,400
CANADA
218,800
235,200
225,300
Source: CMHC Housing Now – July 2007
Average MLS resale price for local markets
CityJune 2006 June 2007
Halifax$201,316 $225,467
Quebec City$153,315 $164,298
Montreal$223,133 $235,087
Ottawa$260,458 $279,361
Toronto$358,035 $381,963
Hamilton/Burlington$250,347 $269,676
Saskatoon$160,548$252,444
Calgary$367,033 $427,205
Edmonton$254,240 $350,357
Vancouver$508,435 $564,702
National
$283,655
$315,332
Source: Canadian Real Estate Association (CREA)

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