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


Cliquez ici pour la version française


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


President of First Foundation Residential Mortgages and First Foundation Insurance. Live in Edmonton but cheer for the Riders. I have lots of kids. Follow me on Twitter @gordmccallum

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