June 2008 Mortgage and Housing Statistics

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On June 3rd, 2008, the Canadian Association of Accredited Mortgage Professionals (CAAMP) released their June 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.




June 3, 2008


Cliquez ici pour la version française

Welcome to the June 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


March 4, 2008


3.50%


April 22, 2008


3.00%


June 10, 2008


Next meeting date


Source: Bank of Canada

Bank Prime Lending Rate



March 5, 2008


5.25%


April 23, 2008


4.75%


June 11, 2008


Next meeting date

Source: Bank of Canada




US Federal Reserve Board Discount Rate


March 18, 2008


2.25%


April 30, 2008


2.00%


June 25, 2008


Next meeting date


Source: US Federal Reserve

Exchange Rate ($CDN/$US)


Exchange Rate ($CDN/$US)


$CDN/$US


April 30, 2008


0.9929


$CDN/$US


May 16, 2008


1.0002


$CDN/$US


May 30, 2008


1.0070


Source:Bank of Canada

Government of Canada Bonds

Bond Type


April 30, 2008


May 14, 2008


May 30, 2008


1 Year Treasury Bill


2.69%


2.73%


2.88%


3 Year Benchmark Bond Yield


2.92%


2.98%


3.19%


5 Year Benchmark Bond Yield


3.04%


3.19%


3.34%


10 Year Benchmark Bond Yield


3.58%


3.60%


3.68%


Source: Bank of Canada


Total New Housing Starts (Seasonable adjusted and annualized)



Province


February 2008


March 2008


April 2008


Newfoundland/Labrador


2,800


3,400


1,900


PEI


1,000


500


800


Nova Scotia


4,300


10,300


4,700


New Brunswick


3,800


4,300


3,800


Quebec


53,800


45,700


43,800


Ontario


81,800


80,000


76,700


Manitoba


5,600


4,700


6,000


Saskatchewan


6,600


6,700


5,200


Alberta


34,200


55,100


33,600


British Columbia


49,900


32,300


37,500


CANADA


243,800


243,000


213,900


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



Source: Canadian Real Estate Association (CREA)





Canadian Major Market Residential MLS Summary*




Seasonally Adjusted
April 2008


Seasonally Adjusted
March 2008


Unadjusted Data
April 2008


Unadjusted Data
April 2007


Dollar Volume
($ millions)


8,849.8


8,920.8


11,627.1


11,996.3


Unit Sales


27,039


26,834


34,781


37,033


Average Price ($)




334,293


323,936


New Listings


52,775


51,825


67,554


57,382


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



First Quarter 2008 House Price Survey Data Chart



Region


Detached Bungalows


Standard Two Storey


Standard Condominium


Q1 2008 Average


Q1 2007 Average


Bungalow % Change


Q1 2008 Average


Q1 2007 Average


2 Storey % Change


Q1 2008 Average


Q1 2007 Average


Condo % Change


Halifax


$207,333


$190,000


9.1%


$246,333


$200,000


23.2%


$152,000


$144,000


5.6%


Charlottetown


$155,000


$145,000


6.9%


$185,000


$175,000


5.7%


$105,000


$100,000


5.0%


Moncton


$152,000


$138,000


10.1%


$135,300


$132,000


2.5%


-


-


-


Fredericton


$160,000


$156,000


2.6%


$197,000


$187,000


5.3%


$126,000


$131,000


-3.8%


Saint John


$185,000


$161,700


14.4%


$264,000


$210,400


25.5%


$142,000


$118,500


19.8%


St. John’s


$164,000


$145,000


13.1%


$229,333


$200,000


14.7%


$173,333


$148,333


16.9%


Atlantic


$170,556


$155,950


9.4%


$209,494


$184,067


13.8%


$116,389


$106,972


8.8%


Montreal


$227,799


$219,313


3.9%


$332,389


$323,375


2.8%


$201,778


$197,438


2.2%


London


$223,300


$203,500


9.7%


$230,300


$211,470


8.9%


$124,100


$116,000


7.0%


Ottawa


$311,583


$298,083


4.5%


$309,833


$294,667


5.1%


$198,083


$187,333


5.7%


Toronto


$432,679


$388,921


11.3%


$544,150


$503,778


8.0%


$298,662


$279,442


6.9%


Winnipeg


$229,125


$191,375


19.7%


$242,943


$220,714


10.1%


$138,000


$122,000


13.1%


Regina


$237,138


$158,500


49.6%


$227,000


$159,500


42.3%


$160,917


$102,500


57.0%


Saskatoon


$340,000


$226,250


50.3%


$395,000


$257,500


53.4%


$220,000


$155,000


41.9%


Calgary


$442,852


$402,933


9.9%


$445,792


$411,456


8.3%


$281,807


$261,336


7.8%


Edmonton


$330,000


$347,000


-4.9%


$363,707


$377,643


-3.7%


$235,000


$254,667


-7.7%


Vancouver


$852,750


$758,000


12.5%


$948,750


$837,500


13.3%


$455,750


$403,500


12.9%


Victoria


$439,000


$384,500


14.2%


$460,000


$418,000


10.0%


$294,000


$248,000


18.5%


National


$336,834


$311,108


8.3%


$400,647


$374,114


7.1%


$240,423


$225,006


6.9%


Source: Royal LePage