October 2007 Mortgage and Housing Statistics

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On November 2nd, 2007, the Canadian Association of Accredited Mortgage Professionals (CAAMP) released their November 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 read the full publication, please click on the link below.

To learn more about CAAMP, please visit their website.


November 2, 2007

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Welcome to the November issue of CAAMP Stats. For more information visit www.caamp.org


Bank of Canada Interest Rate

September 5, 2007 4.50%
October 16, 2007 4.50%
December 4, 2007 Next meeting date
Source: Bank of Canada

Bank Prime Lending Rate


September 6, 2007 6.25%
October 17, 2007 6.25%
December 5, 2007 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 September 28, 2007 1.0052
$CDN/$US October 12, 2007 1.0027
$CDN/$US October 30, 2007 1.0492
Source:Bank of Canada









Government of Canada Bonds

Bond Type
September 26, 2007

October 17, 2007

October 31, 2007
1 Year Treasury Bill
4.29%

4.39%

4.33%
3 Year Benchmark Bond Yield
4.25%

4.34%

4.22%
5 Year Benchmark Bond Yield
4.29%

4.36%

4.23%
10 Year Benchmark Bond Yield
4.41%

4.43%

4.31%
Source: Bank of Canada

Total New Housing Starts (Seasonable adjusted and annualized)

Province
July 2007

August 2007
Newfoundland/Labrador
2,500

2,400
PEI
700

700
Nova Scotia
4,200

5,700
New Brunswick
4,600

4,700
Quebec
51,000

50,700
Ontario
66,900

69,300
Manitoba
5,100

6,900
Saskatchewan
7,700

6,400
Alberta
46,000

50,500
British Columbia
36,500

38,500
CANADA
225,200

235,800
Source: CMHC Housing Now – October 2007. This seasonally adjusted data goes through stages of revision at different times of the year.

Average MLS resale price for local markets

City September 2006 September 2007
Halifax $214,771 $216,863
Quebec City $150,019 $166,571
Montreal $219,081 $227,740
Ottawa $255,631 $273,805
Toronto $349,149 $380,132
Hamilton/Burlington $248,787 $264,091
Saskatoon $162,116 $242,091
Calgary $369,928 $415,311
Edmonton $278,732 $344,286
Vancouver $527,504 $582,354
Source: Canadian Real Estate Association (CREA)



Canadian Major Market Residential MLS Summary*



Seasonally Adjusted
September 2007

Seasonally Adjusted
August 2007

Unadjusted Data
September 2007

Unadjusted Data
September 2006


Dollar Volume
($ millions)

9,419.9 9,718.3 8,272.3 7,582.4

Unit Sale
28,591 29,510 25,170 25,632

Average Price ($)
328,660 295,821

New Listings
49,569 48,897 51,673 52,676

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




Survey of Canadian Average House Prices in the Third Quarter 2007




Detached Bungalow

Standard Two Storey

Standard Condominium
> align=“center”

Market

Q3 2007 Average

Q3 2006 Average

Bungalow
% change

Q3 2007 Average

Q3 2006 Average

2-Storey
% change

Q3 2007 Average

Q3 2006 Average

Condo
% change
Halifax
198,000

186,333

6.3%

238,333

191,667

24.3%

150,000

142,000

5.6%

Charlottetown

150,000

145,000

3.4%

177,000

175,000

1.1%

100,000

98,000

2.0%

Moncton

157,000

135,000

16.3%

135,000

129,000

4.7%




Fredericton

155,000

141,200

9.8%

197,000

155,200

26.9%

130,000

126,500

2.8%
Saint John
189,000

141,200

33.9%

240,000

155,200

54.6%

129,000

117,600

9.7%
St. John’s
153,667

143,667

7.0%

213,333

200,667

6.3%

160,000

146,333

9.3%

Atlantic

167,111

148,733

12.4%

200,111

167,789

19.3%

133,800

126,087

6.1%

Montreal

225,214

213,691

5.4%

334,813

321,141

4.3%

201,991

193,190

4.6%

Ottawa

305,750

290,083

5.4%

302,917

285,667

6.0%

193,750

181,083

7.0%
Toronto
405,581

378,641

7.1%

523,320

479,477

9.1%

287,039

252,088

13.9%

Winnipeg

204,950

181,579

12.9%

231,833

202,337

14.6%

120,032

105,648

13.6%
Regina
208,000

145,500

43.0%

185,500

158,000

17.4%

131,500

94,500

39.2%

Saskatoon

293,750

183,250

60.3%

323,750

199,650

62.2%

207,500

118,000

75.8%
Calgary
472,522

395,067

19.6%

476,711

405,778

17.5%

293,167

245,844

19.2%

Edmonton

370,000

286,857

29.0%

397,857

316,429

25.7%

266,667

200,433

33.0%
Vancouver
787,500

704,250

11.8%

879,000

794,000

10.7%

419,750

366,250

14.6%
Victoria
400,000

375,000

6.7%

440,000

403,000

9.2%

270,000

229,000

17.9%

National

340,941

298,368

14.3%

407,613

359,464

13.4%

241,818

209,075

15.7%

Source: Royal LePage September 2007