Tuesday 19 January 2016

January News and Rate Advisor



Courtesy of  Phil Romano, CPMB 905-516-1150

Certified Professional Mortgage Broker #M10002221
Verico House of Mortgage Experts
philromano@vhme.ca
www.philrom.com

Welcome to the January issue of the News & Rate Advisor.
Current Discount Mortgage RatesJan 2016
Variable Rate2.30%
1 Year2.29%
2 Year2.19%
3 Year2.24%
4 Year2.54%
5 Year2.94%
7 Year3.44%
10 Year3.84%
Prime Rate2.70%
Canadian Qualifying RateJan 2016
RateNo rate defined for this month
Source: Bank of Canada

Current Posted Mortgage RatesJan 2016Jan 2015Jan 2014
1 Year0.00%3.14%3.14%
3 Year0.00%3.44%3.75%
5 Year0.00%4.79%5.24%
Source: Bank of Canada

Nationwide Building PermitsNov 2015Nov 2014Nov 2013
Residential$4,008,339,000$4,382,756,000$4,081,721,000
Commercial$2,226,367,000$2,218,621,000$2,679,245,000
Total$6,234,706,000$6,601,377,000$6,760,966,000
Source: Stats Canada - preliminary figures

Current Bank of Canada Rate & Prime RatesJan 2016Jan 2015Jan 2014
Bank Rate0.75%1.00%1.25%
Prime Rate2.70%2.85%3.00%
Source: Bank of Canada


Average House Prices by CityNov 2015Nov 2014Nov 2013
Yellowknife$423,788$205,500$341,343
Vancouver$930,652$801,450$774,932
Victoria$495,209$466,453$454,703
Edmonton$369,559$381,371$339,703
Calgary$444,959$462,031$445,114
Saskatoon$339,465$346,015$334,440
Regina$309,240$298,290$306,631
Toronto$632,685$577,936$538,881
Hamilton-Burlington$431,566$398,590$368,947
Ottawa-Carleton$363,117$358,196$359,082
Quebec City$262,765$265,825$261,123
Montreal$346,723$345,032$320,693
Fredericton$158,857$146,242$159,892
Saint John$175,829$191,082$170,126
Halifax-Dartmouth$296,205$266,362$267,717
Winnipeg$278,134$266,945$261,832
Source: CREA - Most Recent Month Reported

Average House Prices by ProvinceNov 2015Nov 2014Nov 2013
National$456,186$413,649$391,085
Yukon$343,942$242,694$353,498
Northwest Territories$423,788$205,500$341,343
British Columbia$668,317$574,694$557,586
Alberta$385,430$407,071$385,217
Saskatchewan$294,110$295,487$290,859
Manitoba$271,045$261,180$255,636
Ontario$471,224$433,561$408,251
Quebec$283,560$279,014$264,690
New Brunswick$155,127$160,766$156,787
Prince Edward Island$167,875$180,487$151,363
Nova Scotia$216,717$206,251$209,997
Newfoundland$271,918$273,177$282,123
Source: CREA - Most Recent Month Reported



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