November 2007 Mortgage and Housing Statistics

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On December 7th, 2007, the Canadian Association of Accredited Mortgage Professionals (CAAMP) released their December 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.

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