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. |
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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 |
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