December 2007 Mortgage and Housing Statistics

January 10, 2008 by Shayla Damery

On January 7th, 2008, the Canadian Association of Accredited Mortgage Professionals (CAAMP) released their January issue of CAAMP Stats.  The publication includes information such as the Bank of Canada Interest Rate, the US Federal Reserve Discount Rate, new housing starts, and more.  To view the full publication, please continue reading.

To learn more about CAAMP, please visit their website.

January 3, 2008

Cliquez ici pour la version française Happy New Year and welcome to the January issue of CAAMP Stats. CAAMP recently released its fall annual report on the state of the Canadian residential mortgage market. For a copy click here. We wish members a happy and prosperous new year.

Bank of Canada Interest Rate October 16, 2007 4.50% December 4, 2007 4.25% January 22, 2008 Next meeting date Source: Bank of Canada Bank Prime Lending Rate October 17, 2007 6.25% December 5, 2007 6.00% January 23, 2008 Next meeting date Source: Bank of Canada

US Federal Reserve Board Discount Rate October 31, 2007 4.50% December 11, 2007 4.25% January 30, 2008 Next meeting date Source: US Federal Reserve Exchange Rate ($CDN/$US) Exchange Rate $CDN/$US $CDN/$US December 4, 2007 0.9876 $CDN/$US December 14, 2007 0.9833 $CDN/$US December 28, 2007 1.0199 Source:Bank of Canada

Government of Canada Bonds Bond Type November 28, 2007 December 12, 2007 December 27, 2007 1 Year Treasury Bill 3.95% 4.02% 4.01% 3 Year Benchmark Bond Yield 3.85% 3.85% 3.92% 5 Year Benchmark Bond Yield 3.91% 3.87% 3.96% 10 Year Benchmark Bond Yield 4.07% 4.02% 4.09% Source: Bank of Canada

Total New Housing Starts (Seasonable adjusted and annualized) Province September 2007 October 2007 November 2007 Newfoundland/Labrador 2,600 2,700 3,000 PEI 800 500 1,000 Nova Scotia 5,600 5,600 4,200 New Brunswick 4,800 3,900 3,800 Quebec 70,100 47,700 39,600 Ontario 84,200 68,400 76,300 Manitoba 5,600 6,600 5,000 Saskatchewan 6,400 5,300 5,100 Alberta 57,300 45,900 42,600 British Columbia 43,900 40,900 47,800 CANADA 281,300 227,600 228,500 Source: CMHC Housing Now – December 2007. This seasonally adjusted data goes through stages of revision at different times of the year.

Average MLS resale price for local markets City November 2006 November 2007 Halifax $194,556 $212,664 Quebec City $150,353 $172,373 Montreal $217,957 $239,079 Ottawa $260,107 $271,867 Toronto $355,463 $393,543 Hamilton/Burlington $251,164 $267,560 Saskatoon $167,481 $251,202 Calgary $360,622 $408,638 Edmonton $282,434 $325,060 Vancouver $519,294 $577,219 Source: Canadian Real Estate Association (CREA)

Canadian Major Market Residential MLS Summary*   Seasonally Adjusted November 2007 Seasonally Adjusted October 2007 Unadjusted Data November 2007 Unadjusted Data November 2006 Dollar Volume ($ millions) 10,144.1 9,643.7 8,708.2 7,248.9 Unit Sales 29,992 29,050 26,166 24,316 Average Price ($)     332,807 298,112 New Listings 49,720 49,508 39,502 37,236 Source: Canadian Real Estate Association * Includes totals for 25 major markets in Canada   Major Market MLS Residential Survey: Year to date (January – October 2007)  Market Dollar Volume ($000s)- Residential Y-Y% Change Unit Sales Residential Y-Y% Change Calgary 12,740,798.7 18.8% 30,721 -0.9% Edmonton 6,634,769.9 27.6% 19,450 -6.4% Halifax/Dartmouth 1,508,510.8 20.2% 6,963 12.7% Hamilton/Burlington 3,564,388.8 15.5% 13,241 6.8% Montréal 12,170,598.5 20.5% 53,105 13.1% Ottawa 3,859,323.3 12.4% 14,142 6.3% Saskatoon 981,219.4 87.5% 4,236 29.4% Toronto 34,044,754.0 19.9% 90,518 12.6% Vancouver 21,140,409.5 19.5% 37,021 6.6% Winnipeg 2,063,895.8 21.1% 11,843 7.2% Source: Local Real Estate Boards and RE/MAX. Figures January 1, 2007– October 31, 2007