July 2008 Mortgage and Housing Statistics
On July 2nd, 2008, the Canadian Association of Accredited Mortgage Professionals (CAAMP) released their July 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.
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July 2, 2008 |
Cliquez ici pour la version française
Welcome to the July issue of CAAMP Stats. Will Dunning, CAAMP’s chief economist, recently released our spring mortgage research report. For a copy click here |
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Bank of Canada Interest Rate
April 22, 2008 |
3.00% |
June 10, 2008 |
3.00% |
July 15, 2008 |
Next meeting date |
 |
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Source: Bank of Canada |
Bank Prime Lending Rate
April 23, 2008 |
4.75% |
June 11, 2008 |
4.75% |
July 16, 2008 |
Next meeting date |
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Source: Bank of Canada |
US Federal Reserve Board Discount Rate |
April 30, 2008 |
2.00% |
June 25, 2008 |
2.00% |
August 5, 2008 |
Next meeting date |
 |
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Source: US Federal Reserve |
Exchange Rate ($CDN/$US)
Exchange Rate ($CDN/$US) |
$CDN/$US |
May 30, 2008 |
1.0070 |
$CDN/$US |
June 11, 2008 |
0.9804 |
$CDN/$US |
June 30, 2008 |
0.9807 |
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Source:Bank of Canada |
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Government of Canada Bonds
Bond Type |
May 30, 2008 |
June 11, 2008 |
June 25, 2008 |
1 Year Treasury Bill |
2.88% |
3.27% |
3.24% |
3 Year Benchmark Bond Yield |
3.19% |
3.37% |
3.35% |
5 Year Benchmark Bond Yield |
3.34% |
3.49% |
3.42% |
10 Year Benchmark Bond Yield |
3.68% |
3.80% |
3.71% |
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Source: Bank of Canada |
Total New Housing Starts (Seasonable adjusted and annualized)
Province |
March 2008 |
April 2008 |
May 2008 |
Newfoundland/Labrador |
3,400 |
1,900 |
2,900 |
PEI |
500 |
800 |
700 |
Nova Scotia |
10,300 |
4,700 |
3,800 |
New Brunswick |
4,300 |
3,800 |
5,100 |
Quebec |
45,700 |
43,800 |
50,300 |
Ontario |
80,000 |
76,700 |
71,200 |
Manitoba |
4,700 |
6,000 |
7,200 |
Saskatchewan |
6,700 |
5,200 |
6,500 |
Alberta |
55,100 |
33,600 |
35,500 |
British Columbia |
32,300 |
37,500 |
38,000 |
CANADA |
243,000 |
213,900 |
221,300 |
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Source: CMHC Housing Now – June 2008. This seasonally adjusted data goes through stages of revision at different times of the year. |
Canadian Major Market Residential MLS Summary*
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Seasonally Adjusted
May 2008 |
Seasonally Adjusted
April 2008 |
Unadjusted Data
May 2008 |
Unadjusted Data
May 2007 |
Dollar Volume
($ millions) |
8,823.7 |
8,854.4 |
11,811.0 |
14,061.3 |
Unit Sales |
26,902 |
27,044 |
35,040 |
42,167 |
Average Price ($) |
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337,071 |
333,466 |
New Listings |
54,029 |
52,856 |
67,628 |
63,188 |
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Source: Canadian Real Estate Association * Includes totals for 25 major markets in Canada |
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April City Resale markets
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% change year-over-year |
Price |
Sales |
Listings |
Major Markets |
3.2 |
-6.1 |
17.7 |
Regina** |
64.6 |
14.6 |
49.0 |
Saskatoon** |
31.2 |
12.8 |
120.8 |
St. John’s |
17.2 |
27.3 |
-6.8 |
Sudbury |
16.8 |
-6.9 |
18.8 |
Saint John |
14.4 |
18.1 |
7.7 |
Thunder Bay |
9.7 |
15.8 |
-4.1 |
Vancouver |
9.0 |
-5.0 |
25.9 |
Hamilton |
6.9 |
2.2 |
17.8 |
Ottawa |
6.7 |
0.7 |
16.2 |
Kitchener |
6.1 |
-3.0 |
-2.3 |
Halifax |
6.0 |
-1.4 |
6.4 |
Toronto |
5.2 |
-7.3 |
18.3 |
Quebec* |
4.7 |
-7.7 |
-5.6 |
Victoria |
4.5 |
-14.2 |
4.0 |
London |
3.2 |
-8.6 |
19.9 |
Windsor |
-0.6 |
-2.8 |
15.5 |
St. Catharines |
-0.7 |
3.0 |
21.7 |
Calgary |
-1.6 |
-31.2 |
17.1 |
Edmonton |
-2.0 |
-25.4 |
35.6 |
*Data for cities in Quebec are currently unavailable. Provincial numbers for March have been used as a proxy.
**Preliminary estimates |
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Source: RBC Housing Market Froth Report, May 2008 |
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