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| CAAMP STATS |
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Welcome to the December issue of CAAMP Stats. For more information on CAAMP visitwww.caamp.org
Bank of Canada Interest Rate
| October 23, 2014 | 1.00% |
| December 3, 2014 | 1.00% |
| January 21, 2015 | Next meeting date |
Source: Bank of Canada
Bank Prime Lending Rate
| October 24, 2014 | 3.00% |
| December 4, 2014 | 3.00% |
| January 22, 2015 | Next meeting date |
Source: Bank of Canada
Conventional Mortgage – 5 Year Rate*
| October 29, 2014 | 4.79% |
| November 12, 2014 | 4.79% |
| November 26, 2014 | 4.79% |
Source: Bank of Canada
*Determinant for high ratio mortgage variable qualifying rate
US Federal Reserve Board Discount Rate
| September 17, 2014 | 0.00%-0.25% |
| October 29, 2014 | 0.00%-0.25% |
| December 17, 2014 | Next meeting date |
Source: US Federal Reserve
Exchange Rate $CDN($US)
| November 5, 2014 | 0.8780 $CDN ($US) |
| November 12, 2014 | 0.8837 $CDN ($US) |
| November 26, 2014 | 0.8900 $CDN ($US) |
Source: Bank of Canada
Government of Canada Bonds
| Bond Type | October 29, 2014 | November 12, 2014 | November 26, 2014 |
| 1 year Treasury Bill | 0.98% | 0.98% | 0.98% |
| 3 year Benchmark Bond Yield | 1.16% | 1.15% | 1.11% |
| 5 year Benchmark Bond Yield | 1.56% | 1.54% | 1.46% |
| 10 year Benchmark Bond Yield | 2.05% | 2.05% | 1.93% |
Source: Bank of Canada
Total New Housing Starts (Seasonally adjusted and annualized)
| Province | August 2014 | August 2013 | September 2014 | September 2013 |
October
2014
|
October2013
|
| Newfoundland/Labrador | 2,500 | 3,100 | 1,900 | 2,700 | 2,700 | 3,700 |
| PEI | 300 | 400 | 400 | 70 | 800 | 400 |
| Nova Scotia | 4,000 | 2,300 | 4,200 | 5,200 | 2,200 | 4,000 |
| New Brunswick | 2,900 | 3,600 | 2,000 | 3,000 | 2,400 | 3,300 |
| Quebec | 35,400 | 32,700 | 40,500 | 38,400 | 37,400 | 36,800 |
| Ontario | 52,100 | 69,900 | 54,400 | 60,400 | 53,200 | 70,600 |
| Manitoba | 9,400 | 5,000 | 6,600 | 9,100 | 7,400 | 7,400 |
| Saskatchewan | 9,400 | 10,100 | 10,600 | 14,400 | 9,600 | 9,200 |
| Alberta | 44,300 | 26,900 | 47,200 | 30,800 | 43,000 | 37,200 |
| British Columbia | 36,000 | 26,200 | 29,500 | 31,100 | 25,000 | 25,600 |
| CANADA | 196,400 | 180,200 | 197,400 | 195,900 | 183,600 | 198,300 |
Source: CMHC Housing Now – November 2013 and November 2014.
Average MLS resale price for local markets
| City | October 2013 | October 2014 |
| St. John’s | $346,556 | $343,958 |
| Halifax | $265,339 | $264,447 |
| Saint John | $153,697 | $158,041 |
| Quebec | $263,537 | $258,406 |
| Montréal | $333,319 | $344,273 |
| Ottawa | $363,240 | $357,887 |
| Toronto | $539,058 | $587,505 |
| Hamilton/Burlington | $384,534 | $420,565 |
| Winnipeg | $271,946 | $270,605 |
| Saskatoon | $331,750 | $349,322 |
| Regina | $316,810 | $331,161 |
| Calgary | $436,216 | $465,047 |
| Edmonton | $336,812 | $365,520 |
| Vancouver | $775,542 | $819,336 |
| Victoria | $473,820 | $505,859 |
Source: Canadian Real Estate Association
Housing Affordability Index
Standard two-storey
Region
|
Average Price
|
Qualifying Income ($)
|
RBC Housing Affordability Measure
| |
Q3 2014 ($)
|
Q/Q % ch.
|
Y/Y % ch.
|
Q3 2014 (%)
|
Q/Q Ppt. ch.
|
Y/Y Ppt. ch.
|
Avg. since '85 (%)
| |
Q3 2014
| |
| Canada* |
447,100
|
0.8
|
5.1
|
91,900
|
47.8
|
-0.2
|
-1.2
|
43.7
| |
| British Columbia |
697,900
|
0.7
|
4.6
|
129,800
|
72.4
|
0.2
|
-1.8
|
56.0
| |
| Alberta |
410,200
|
2.2
|
5.1
|
86,000
|
33.7
|
0.4
|
-1.3
|
37.6
| |
| Saskatchewan |
381,200
|
-0.9
|
-1.7
|
80,500
|
38.3
|
-0.4
|
-3.0
|
37.4
| |
| Manitoba |
323,600
|
1.7
|
1.5
|
69,400
|
37.2
|
0.2
|
-2.5
|
36.6
| |
| Ontario |
490,100
|
0.7
|
7.1
|
101,800
|
50.5
|
-0.4
|
0.0
|
44.1
| |
| Quebec |
330,100
|
0.3
|
3.1
|
70,300
|
41.6
|
-0.4
|
-1.8
|
39.9
| |
| Atlantic |
252,600
|
1.5
|
0.6
|
60,200
|
34.9
|
0.1
|
-1.8
|
37.9
| |
| Toronto |
709,400
|
-0.4
|
8.1
|
139,400
|
64.2
|
-1.1
|
0.5
|
54.5
| |
| Montreal |
401,300
|
-0.1
|
0.2
|
82,900
|
47.9
|
-0.6
|
-3.4
|
42.6
| |
| Vancouver |
896,400
|
0.9
|
4.8
|
162,900
|
85.6
|
0.4
|
-2.0
|
65.6
| |
| Ottawa |
412,600
|
1.0
|
1.2
|
93,500
|
37.5
|
-0.1
|
-1.4
|
38.6
| |
| Calgary |
499,800
|
2.1
|
9.2
|
98,800
|
34.3
|
0.4
|
-0.1
|
38.9
| |
| Edmonton |
394,500
|
2.0
|
5.3
|
84,100
|
35.4
|
0.2
|
-1.6
|
36.5
| |
Detached bungalow
| Region | Average Price | Qualifying Income ($) | RBC Housing Affordability Measure | |
| Q3 2014 ($) | Q/Q % ch. | Y/Y % ch. | Q3 2014 (%) | Q/Q Ppt. ch. | Y/Y Ppt. ch. | Avg. since '85 (%) | |
| Q3 2014 | |
| Canada* | 402,100 | 1.5 | 5.9 | 81,800 | 42.6 | 0.1 | -0.8 | 39.2 | |
| British Columbia | 663,400 | 2.1 | 6.2 | 122,300 | 68.2 | 1.0 | -0.9 | 50.8 | |
| Alberta | 405,700 | 2.2 | 8.1 | 82,300 | 32.3 | 0.4 | -0.5 | 35.1 | |
| Saskatchewan | 341,900 | -4.2 | -3.2 | 71,600 | 34.1 | -1.3 | -3.1 | 36.0 | |
| Manitoba | 313,300 | -0.4 | 0.4 | 67,000 | 35.9 | -0.4 | -2.8 | 35.7 | |
| Ontario | 436,700 | 1.5 | 6.8 | 90,100 | 44.7 | -0.1 | -0.1 | 40.3 | |
| Quebec | 263,100 | 1.6 | 5.2 | 56,400 | 33.4 | 0.0 | -0.9 | 33.3 | |
| Atlantic | 223,500 | -0.2 | 0.2 | 51,800 | 30.0 | -0.3 | -1.7 | 31.7 | |
| Toronto | 628,900 | 2.4 | 8.7 | 122,200 | 56.3 | 0.3 | 0.7 | 48.8 | |
| Montreal | 303,700 | 0.2 | 2.6 | 64,000 | 37.0 | -0.3 | -1.8 | 36.9 | |
| Vancouver | 884,400 | 2.7 | 7.3 | 159,200 | 83.6 | 1.6 | -0.3 | 60.5 | |
| Ottawa | 404,400 | 0.4 | 1.2 | 89,100 | 35.7 | -0.3 | -1.5 | 36.4 | |
| Calgary | 515,800 | 2.9 | 10.8 | 98,700 | 34.2 | 0.6 | 0.2 | 38.5 | |
| Edmonton | 360,400 | 2.0 | 6.0 | 75,800 | 31.9 | 0.2 | -1.2 | 33.3 | |
Source RBC, November May 2014
RBC Housing Affordability Measure captures the proportion of median pre-tax household income required to service the cost of a mortgage on an existing housing unit at going market prices, including principal and interest, property taxes and utilities. This measure is based on a 25% down payment, a 25-year mortgage loan at a five-year fixed rate, and is estimated on a quarterly basis. The higher the measure, the more difficult it is to afford a house. |
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