December 2007 Mortgage and Housing Statistics

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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

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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