September 2008 Mortgage and Housing Statistics

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


Source: RE/MAX, Local Real Estate Boards, September 2008