October 4, 2007 |
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Welcome to the October issue of CAAMP Stats. For more information visit www.caamp.org |
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Bank of Canada Interest Rate |
July 10, 2007 |
4.50% |
September 5, 2007 |
4.50% |
October 16, 2007 |
Next meeting date |
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Source: Bank of Canada |
Bank Prime Lending Rate |
July 11 , 2007 |
6.25% |
September 6 , 2007 |
6.25% |
October 17 , 2007 |
Next meeting date |
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Source: Bank of Canada |
|
US Federal Reserve Board Discount Rate |
August 7 , 2007 |
5.25% |
September 18, 2007 |
4.75% |
October 31, 2007 |
Next meeting date |
|
|
Source: US Federal Reserve |
Exchange Rate ($CDN/$US) |
Exchange Rate $CDN/$US |
$CDN/$US |
August 31, 2007 |
0.9468 |
$CDN/$US |
September 19, 2007 |
0.9850 |
$CDN/$US |
September 28, 2007 |
1.0052 |
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Source:Bank of Canada |
|
Government of Canada Bonds |
Bond Type |
August 29, 2007 |
September 12, 2007 |
September 26, 2007 |
1 Year Treasury Bill |
4.25% |
4.30% |
4.29% |
3 Year Benchmark Bond Yield |
4.27% |
4.22% |
4.25% |
5 Year Benchmark Bond Yield |
4.30% |
4.23% |
4.29% |
10 Year Benchmark Bond Yield |
4.38% |
4.33% |
4.41% |
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Source: Bank of Canada |
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Total New Housing Starts (Seasonable adjusted and annualized) |
Province |
June 2007 |
July 2007 |
August 2007 |
Newfoundland/Labrador |
2,400 |
2,400 |
2,300 |
PEI |
800 |
600 |
600 |
Nova Scotia |
4,600 |
3,900 |
5,200 |
New Brunswick |
3,900 |
4,500 |
4,700 |
Quebec |
54,900 |
49,300 |
49,000 |
Ontario |
62,000 |
64,700 |
67,300 |
Manitoba |
5,100 |
5,100 |
6,700 |
Saskatchewan |
7,500 |
6,100 |
5,200 |
Alberta |
45,700 |
44,000 |
47,900 |
British Columbia |
38,400 |
35,000 |
37,500 |
CANADA |
225,300 |
215,600 |
226,500 |
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Source: CMHC Housing Now � September 2007 |
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Average MLS resale price for local markets |
City |
August 2006 |
August 2007 |
Halifax |
$205,485 |
$218,665 |
Quebec City |
$152,564 |
$165,088 |
Montreal |
$210,964 |
$228,006 |
Ottawa |
$262,607 |
$267,765 |
Toronto |
$338,192 |
$361,898 |
Hamilton/Burlington |
$253,659 |
$270,893 |
Saskatoon |
$161,922 |
$253,240 |
Calgary |
$365,732 |
$423,801 |
Edmonton |
$270,246 |
$345,809 |
Vancouver |
$520,686 |
$587,483 |
|
Source: Canadian Real Estate Association (CREA) |
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Canadian Major Market Residential MLS Summary* |
|
Seasonally Adjusted
August 2007 |
Seasonally Adjusted
July 2007 |
Unadjusted Data
August 2007 |
Unadjusted Data
August 2006 |
Dollar Volume
($ millions) |
9,799.4 |
10,379.6 |
9,728.5 |
8,242.5 |
Unit Sales
|
29,717 |
31,381 |
29,853 |
28,137 |
Average Price ($) | | |
325,881 |
292,941 |
New Listings |
48,817 |
49,556 |
49,399 |
47,783 |
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Source: Canadian Real Estate Association * Includes totals for 25 major markets in Canada |
| |
Standard two-story Housing Affordability Index |
Region |
Average Price |
Qualifying
Income ($)
Q2 2007 |
Affordability Measure (%) |
Q2 2007 ($) |
Y/Y % ch. |
Q1 2007 (rev) |
Q2 2007 |
Canada* |
340,341 |
11.0 |
81,785 |
43.2 |
46.2 |
British Columbia |
252,562 |
7.5 |
116,608 |
64.0 |
68.2 |
Alberta |
420,470 |
39.3 |
95,465 |
39.6 |
44.8 |
Saskatchewan |
263,972 |
49.7 |
65,140 |
34.6 |
40.2 |
Manitoba |
214,560 |
8.2 |
56,397 |
33.1 |
34.5 |
Ontario |
346,499 |
7.1 |
84,416 |
40.4 |
42.9 |
Quebec |
258,846 |
4.0 |
67,402 |
42.4 |
43.9 |
Atlantic |
206,806 |
12.5 |
53,401 |
33.3 |
36.6 |
Toronto |
475,625 |
7.3 |
111,345 |
48.6 |
52.0 |
Montreal |
295,331 |
4.1 |
74,659 |
44.3 |
46.1 |
Vancouver |
609,092 |
8.1 |
133,584 |
68.0 |
73.3 |
Ottawa |
316,222 |
5.0 |
79,717 |
35.2 |
36.8 |
Calgary |
465,678 |
38.2 |
103,043 |
39.6 |
45.7 |
Edmonton |
376,060 |
33.0 |
87,377 |
38.5 |
41.4 |
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Source: RBC Financial Group Housing Affordability Index, September 2007 Index based on a 25% down payment and a 25 year mortgage loan at a five year fixed rate. The higher the index, the more difficult it is to afford home. An affordability index of 50 means that homeownership costs including mortgage payments, utilities and property taxes take up half of a typical household’s monthly pre-tax income. |
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