December 7, 2007 |
Welcome to the December issue of CAAMP Stats. CAAMP recently released its fall annual report on the state of the Canadian residential mortgage market. To view a copy of the report – click here. Best Wishes for a happy and healthy holiday season. |
|
Bank of Canada Interest Rate |
October 16, 2007 |
4.50% |
December 4, 2007 |
4.25% |
January 22, 2008 |
Next meeting date |
Bank Prime Lending Rate |
October 17, 2007 |
6.25% |
December 5, 2007 |
6.00% |
January 23, 2008 |
Next meeting date |
|
Source: Bank of Canada |
|
US Federal Reserve Board Discount Rate |
September 18, 2007 |
4.75% |
October 31, 2007 |
4.50% |
December 11, 2007 |
Next meeting date |
Source: US Federal Reserve |
Exchange Rate ($CDN/$US) |
Exchange Rate $CDN/$US |
$CDN/$US |
October 30, 2007 |
1.0492 |
$CDN/$US |
November 16, 2007 |
1.0269 |
$CDN/$US |
December 4, 2007 |
0.9876 |
|
Source:Bank of Canada |
|
Government of Canada Bonds |
Bond Type |
October 31, 2007 |
November 14, 2007 |
November 28, 2007 |
1 Year Treasury Bill |
4.33% |
4.24% |
3.95% |
3 Year Benchmark Bond Yield |
4.22% |
4.01% |
3.85% |
5 Year Benchmark Bond Yield |
4.23% |
4.11% |
3.91% |
10 Year Benchmark Bond Yield |
4.31% |
4.20% |
4.07% |
|
Source: Bank of Canada |
|
Total New Housing Starts (Seasonable adjusted and annualized) |
Province |
August 2007 |
September 2007 |
October 2007 |
Newfoundland/Labrador |
2,400 |
2,600 |
2,700 |
PEI |
700 |
800 |
500 |
Nova Scotia |
5,700 |
5,600 |
5,600 |
New Brunswick |
4,700 |
4,800 |
3,900 |
Quebec |
50,700 |
70,100 |
47,700 |
Ontario |
69,300 |
84,200 |
68,400 |
Manitoba |
6,900 |
5,600 |
6,600 |
Saskatchewan |
6,400 |
6,400 |
5,300 |
Alberta |
50,500 |
57,300 |
45,900 |
British Columbia |
38,500 |
43,900 |
40,900 |
CANADA |
235,800 |
281,300 |
227,600 |
|
Source: CMHC Housing Now – November 2007. This seasonally adjusted data goes through stages of revision at different times of the year. |
|
Average MLS resale price for local markets |
City |
October 2006 |
October 2007 |
Halifax |
$203,015 |
$219,255 |
Quebec City |
$148,425 |
$163,777 |
Montreal |
$219,149 |
$238,558 |
Ottawa |
$259,397 |
$275,184 |
Toronto |
$356,423 |
$394,583 |
Hamilton/Burlington |
$249,244 |
$278,180 |
Saskatoon |
$166,766 |
$255,614 |
Calgary |
$374,067 |
$411,450 |
Edmonton |
$276,641 |
$347,668 |
Vancouver |
$548,022 |
$590,577 |
|
Source: Canadian Real Estate Association (CREA) |
|
Canadian Major Market Residential MLS Summary* | |
Seasonally Adjusted
October 2007 |
Seasonally Adjusted
September 2007 |
Unadjusted Data
October 2007 |
Unadjusted Data
October 2006 |
Dollar Volume
($ millions) |
9,632.5 |
9,408.6 |
9,475.3 |
7,963.1 |
Unit Sales |
28,966 |
28,587 |
28,408 |
26,407 |
Average Price ($) | | |
333,544 |
301,552 |
New Listings |
49,497 |
49,580 |
50,880 |
47,773 |
|
Source: Canadian Real Estate Association * Includes totals for 25 major markets in Canada |
| |
Condominium Market Leaders by Increase in Unit Sales |
Market |
2006 Sales |
2007 Sales |
Percentage increase |
Kitchener
Waterloo |
581 |
925 |
59% |
Saskatoon |
1,008 |
1,340 |
33% |
Halifax
Dartmouth |
612 |
752 |
23% |
Winnipeg |
939 |
1,140 |
21% |
Edmonton |
5,202 |
6,133 |
18% |
Greater Toronto |
21,950 |
25,072 |
14% |
Ottawa |
2,283 |
2,527 |
11% |
Greater Vancouver |
18,891 |
20,221 |
7% |
Calgary |
7,260 |
7,350 |
1% |
|
Source: Local Real Estate Boards and RE/MAX. Figures January 1, 2007 – October 31, 2007 |
|
|