February 2008 Mortage and Housing Statistics

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On March 7th, 2008, the Canadian Association of Accredited Mortgage Professionals (CAAMP) released their March 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.



March 7, 2008


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Welcome to the March issue of CAAMP Stats.


Bank of Canada Interest Rate



January 22, 2008


4.00%


March 4, 2008


3.50%


April 22, 2008


Next meeting date



Source: Bank of Canada

Bank Prime Lending Rate



January 23, 2008


5.75%


March 5, 2008


5.25%


April 23, 2008


Next meeting date

Source: Bank of Canada





US Federal Reserve Board Discount Rate


January 22, 2008 (Inter Mtg.)


3.50%


January 30, 2008


3.00%


March 18, 2008


Next meeting date


Source: US Federal Reserve

Exchange Rate ($CDN/$US)


Exchange Rate ($CDN/$US)


$CDN/$US


January 30, 2008


1.0068


$CDN/$US


February 15, 2008


0.9926


$CDN/$US


February 29, 2008


1.0158


Source:Bank of Canada


Government of Canada Bonds


Bond Type


January 30, 2008


February 13, 2008


February 27, 2008


1 Year Treasury Bill


3.35%


3.22%


3.18%


3 Year Benchmark Bond Yield


3.30%


3.19%


3.17%


5 Year Benchmark Bond Yield


3.50%


3.42%


3.40%


10 Year Benchmark Bond Yield


3.88%


3.87%


3.81%

Source: Bank of Canada


Total New Housing Starts (Seasonable adjusted and annualized)



Province


November 2007


December 2007


January 2008


Newfoundland/Labrador


3,300


2,900


2,400


PEI


1,100


600


500


Nova Scotia


4,100


4,400


3,300


New Brunswick


3,800


4,500


4,500


Quebec


38,100


39,200


47,900


Ontario


74,900


51,700


72,700


Manitoba


5,200


4,600


5,800


Saskatchewan


5,700


5,000


6,000


Alberta


43,600


37,900


41,700


British Columbia


50,500


33,900


38,900


CANADA


230,300


184,700


222,700

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


Average MLS resale price for local markets



City


January 2007


January 2008


Halifax


$197,246


$218,505


Montreal


N/A


N/A


Ottawa


$260,898


$285,736


Toronto


$353,724


$374,449


Hamilton/Burlington


$255,753


$278,189


Saskatoon


$190,038


$259,444


Calgary


$375,746


$408,672


Edmonton


$303,820


$332,051


Vancouver


$530,695


$588,183

Source: Canadian Real Estate Association (CREA)


Canadian Major Market Residential MLS Summary*




Seasonally Adjusted
January 2008


Seasonally Adjusted
December 2007


Unadjusted Data
January 2008


Unadjusted Data
January 2007


Dollar Volume
($ millions)


9,819.9


10,041.2


6,419.8


6,425.2


Unit Sales


28,911


29,024


19,742


21,466


Average Price ($)




325,183


299,318


New Listings


51,716


47,307


51,146


47,715

Source: Canadian Real Estate Association * Includes totals for 25 major markets in Canada


RE/MAX Decade in Review



Residential Average Price 1997 vs. 2007





07 vs. ’97


Compound


Market


1997


2007


% +/–


% ’97 vs. 07







Greater Vancouver Area


$287,094


$570,795


98.8


7.1140


Victoria


$218,398


$466,974


113.8


7.8960


Kelowna


$178,525


$497,322


178.6


10.788


Calgary


$143,305


$414,066


188.9


11.1940


Edmonton


$111,587


$338,636


203.5


11.7400


Saskatoon


$98,270


$232,754


136.9


9.0050


Winnipeg


$86,040


$187,456


117.9


8.0990


Barrie


$140,569


$258,999


84.3


6.3020


Greater Toronto Area


$211,307


$376,236


78.1


5.9390


Hamilton-Burlington


$151,538


$268,857


77.4


5.9010


London-St. Thomas


$131,382


$202,908


54.4


4.4420


Kitchener-Waterloo


$141,387


$252,429


78.5


5.9680


Sudbury


$108,521


$182,536


68.2


5.3380


Kingston


$124,123


$222,300


79.1


6.0010


Ottawa-Carelton


$143,866


$277,058


92.6


6.7730


Halifax-Dartmouth


$109,827


$216,339


97.0


7.0140


Prince Edward Island


$86,403


$133,457


54.5


4.4430


St. John’s*


$92,226


$149,258


61.8


4.9320


Saint John


$86,171


$140,544


63.1


5.0130


National


$154,606


$307,265


98.7


7.1100


*Statistics reflect residential average price for all of Newfoundland-Labrador

Source: CREA, Local Real Estate Boards, RE/MAX