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February 2008 Mortage and Housing Statistics

March 11, 2008 by Shayla Damery

On March 7th, 2008, the Canadian Association of Accredited Mortgage Professionals (CAAMP) released their March 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.

 

March 7, 2008

Cliquez ici pour la version française

Welcome to the March issue of CAAMP Stats.


Bank of Canada Interest Rate

January 22, 2008

4.00%

March 4, 2008

3.50%

April 22, 2008

Next meeting date


Source: Bank of Canada


Bank Prime Lending Rate

January 23, 2008

5.75%

March 5, 2008

5.25%

April 23, 2008

Next meeting date



 Source: Bank of Canada

US Federal Reserve Board Discount Rate

January 22, 2008 (Inter Mtg.)

3.50%

January 30, 2008

3.00%

March 18, 2008

Next meeting date


Source: US Federal Reserve

Exchange Rate ($CDN/$US)

Exchange Rate ($CDN/$US)

$CDN/$US

January 30, 2008

1.0068

$CDN/$US

February 15, 2008

0.9926

$CDN/$US

February 29, 2008

1.0158



Source:Bank of Canada

Government of Canada Bonds

Bond Type

January 30, 2008

February 13, 2008

February 27, 2008

1 Year Treasury Bill

3.35%

3.22%

3.18%

3 Year Benchmark Bond Yield

3.30%

3.19%

3.17%

5 Year Benchmark Bond Yield

3.50%

3.42%

3.40%

10 Year Benchmark Bond Yield

3.88%

3.87%

3.81%



Source: Bank of Canada

Total New Housing Starts (Seasonable adjusted and annualized)

Province

November 2007

December 2007

January 2008

Newfoundland/Labrador

3,300

2,900

2,400

PEI

1,100

600

500

Nova Scotia

4,100

4,400

3,300

New Brunswick

3,800

4,500

4,500

Quebec

38,100

39,200

47,900

Ontario

74,900

51,700

72,700

Manitoba

5,200

4,600

5,800

Saskatchewan

5,700

5,000

6,000

Alberta

43,600

37,900

41,700

British Columbia

50,500

33,900

38,900

CANADA

230,300

184,700

222,700



Source: CMHC Housing Now – February 2008. This seasonally adjusted data goes through stages of revision at different times of the year.

Average MLS resale price for local markets

City

January 2007

January 2008

Halifax

$197,246

$218,505

Montreal

N/A

N/A

Ottawa

$260,898

$285,736

Toronto

$353,724

$374,449

Hamilton/Burlington

$255,753

$278,189

Saskatoon

$190,038

$259,444

Calgary

$375,746

$408,672

Edmonton

$303,820

$332,051

Vancouver

$530,695

$588,183



Source: Canadian Real Estate Association (CREA)

Canadian Major Market Residential MLS Summary*

 

Seasonally Adjusted
January 2008

Seasonally Adjusted
December 2007

Unadjusted Data
January 2008

Unadjusted Data
January 2007

Dollar Volume
($ millions)

9,819.9

10,041.2

6,419.8

6,425.2

Unit Sales

28,911

29,024

19,742

21,466

Average Price ($)

 

 

325,183

299,318

  New Listings

51,716

47,307

51,146

47,715



Source: Canadian Real Estate Association * Includes totals for 25 major markets in Canada

RE/MAX Decade in Review

Residential Average Price 1997 vs. 2007

 

 

 

07 vs. '97

Compound

Market

1997

2007

% +/–

% '97 vs. 07

 

 

 

 

 

Greater Vancouver Area

$287,094

$570,795

98.8

7.1140

Victoria

$218,398

$466,974

113.8

7.8960

Kelowna

$178,525

$497,322

178.6

10.788

Calgary

$143,305

$414,066

188.9

11.1940

Edmonton

$111,587

$338,636

203.5

11.7400

Saskatoon

$98,270

$232,754

136.9

9.0050

Winnipeg

$86,040

$187,456

117.9

8.0990

Barrie

$140,569

$258,999

84.3

6.3020

Greater Toronto Area

$211,307

$376,236

78.1

5.9390

Hamilton-Burlington

$151,538

$268,857

77.4

5.9010

London-St. Thomas

$131,382

$202,908

54.4

4.4420

Kitchener-Waterloo

$141,387

$252,429

78.5

5.9680

Sudbury

$108,521

$182,536

68.2

5.3380

Kingston

$124,123

$222,300

79.1

6.0010

Ottawa-Carelton

$143,866

$277,058

92.6

6.7730

Halifax-Dartmouth

$109,827

$216,339

97.0

7.0140

Prince Edward Island

$86,403

$133,457

54.5

4.4430

St. John's*

$92,226

$149,258

61.8

4.9320

Saint John

$86,171

$140,544

63.1

5.0130

National

$154,606

$307,265

98.7

7.1100

*Statistics reflect residential average price for all of Newfoundland-Labrador



Source: CREA, Local Real Estate Boards, RE/MAX

 

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