September 2008 Mortgage and Housing Statistics

October 3, 2008 by Shayla Damery

On October 3rd, 2008, the Canadian Association of Accredited Mortgage Professionals (CAAMP) released their October 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.

October 3, 2008

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Welcome to the October issue of CAAMP Stats.

Bank of Canada Interest Rate

July 15, 2008	3.00%
September 3, 2008	3.00%
October 21, 2008	Next meeting date

Source: Bank of Canada

Bank Prime Lending Rate

July 16, 2008	4.75%
September 4, 2008	4.75%
October 22, 2008	Next meeting date

Source: Bank of Canada

US Federal Reserve Board Discount Rate
August 5, 2008	2.00%
September 16, 2008	2.00%
October 29, 2008	Next meeting date

Source: US Federal Reserve

Exchange Rate ($CDN/$US)

Exchange Rate ($CDN/$US)
$CDN/$US	August 29, 2008	0.9416
$CDN/$US	September 12, 2008	0.9424
$CDN/$US	September 30, 2008	0.9379

Source:Bank of Canada

Government of Canada Bonds

Bond Type	August 27, 2008	September 17, 2008	October 1 , 2008
1 Year Treasury Bill	2.68%	2.47%	2.66%
3 Year Benchmark Bond Yield	2.89%	2.77%	2.93%
5 Year Benchmark Bond Yield	3.03%	2.90%	3.11%
10 Year Benchmark Bond Yield	3.52%	3.43%	3.71%

Source: Bank of Canada

Total New Housing Starts (Seasonable adjusted and annualized)

Province	August 2008	August 2007	July 2008	July 2007
Newfoundland/Labrador	3,100	2,400	1,800	2,400
PEI	700	700	400	600
Nova Scotia	3,300	5,700	3,400	3,900
New Brunswick	3,800	4,700	3,200	4,500
Quebec	43,300	50,700	43,900	49,300
Ontario	89,800	69,300	59,200	64,700
Manitoba	5,400	6,900	3,400	5,100
Saskatchewan	5,300	6,400	4,700	6,100
Alberta	22,900	50,500	29,000	44,000
British Columbia	33,500	38,500	37,300	35,000
CANADA	211,100	235,800	186,500	181,800

Source: CMHC Housing Now – September 2008 and September 2007. This seasonally adjusted data goes through stages of revision at different times of the year.

Source: The Canadian Real Estate Association

Luxury Home Sales

Market	Price Point	Sales/07	Sales/08	% +/-	% +/-
Greater Vancouver	$2 million	370	390	5	-24
Victoria	$1 million	159	165	4	-18
Kelowna	$1 million	71	63	-11	-30
Edmonton	$850,000	110	67	-64	-23
Calgary	$1 million	312	258	-17	-30
Regina	$500,000	17	69	306	-11
Saskatoon	$500,000	11	19	72	-14
Winnipeg	$500,000	62	117	89	0.01
London	$350,000	383	435	14	-9
Kitchener/Waterloo	$500,000	128	188	47	-5
Hamilton/Burlington	$750,000	76	50	-34	-7
Greater Toronto	$1.5 million	505	487	-5	-13
Ottawa	$750,000	99	135	36	-3
Halifax/Dartmouth	$400,000	218	262	20	-7
St. John's	$400,000	28	50	78	11

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September 2008 Mortgage and Housing Statistics

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