July 2008 Mortgage and Housing Statistics

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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.


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



Bank of Canada Interest Rate


April 22, 2008


3.00%


June 10, 2008


3.00%


July 15, 2008


Next meeting date


Source: Bank of Canada


Bank Prime Lending Rate


April 23, 2008


4.75%


June 11, 2008


4.75%


July 16, 2008


Next meeting date

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


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


Source:Bank of Canada



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%


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

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*




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 ($)




337,071


333,466


New Listings


54,029


52,856


67,628


63,188


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


April City Resale markets



% 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


Source: RBC Housing Market Froth Report, May 2008