September 2011 CAAMP Statistics

September 14, 2011 by Jennifer Cookson

Every month we publish the statistics that the Canadian Association of Accredited Mortgage Professionals (CAAMP) sends us as a service to our readers.

Click here to see the most recent stats regarding the following:

Bank of Canada Interest Rate
Government of Canada Bonds
Bank Prime Lending Rate
Total New Housing Starts
Conventional Mortgage – 5 Year Rate
Average MLS® Resale Price for Local Markets
US Federal Reserve Board Discount Rate
Exchange Rate $CDN($US)

The Quarterly Affordability Housing Index is particularity interesting – it shows that the current average price for a detached bungalow in Edmonton is $324,500, and the income required to afford that home would be $74,500 if you had a 25% down payment.

Likewise, the average two-story is now coming in at $375,500 and the needed income to purchase a property of that price would be approx. $86,100, if 25% of the purchase price was applied as a downpayment.