Monday, 16 May 2016

May 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 May issue of the News & Rate Advisor.
Current Discount Mortgage RatesMay 2016
Variable Rate2.35%
1 Year2.29%
2 Year2.19%
3 Year2.29%
4 Year2.49%
5 Year2.64%
7 Year3.64%
10 Year3.84%
Prime Rate2.70%
Canadian Qualifying RateMay 2016
Rate4.64%
Source: Bank of Canada

Current Posted Mortgage RatesMay 2016May 2015May 2014
1 Year3.14%2.89%3.14%
3 Year3.39%3.39%3.75%
5 Year4.64%4.64%4.79%
Source: Bank of Canada

Nationwide Building PermitsMar 2016Mar 2015Mar 2014
Residential$4,416,588,000$4,418,463,000$3,672,691,000
Commercial$2,442,053,000$2,448,640,000$2,300,869,000
Total$6,858,641,000$6,867,103,000$5,973,560,000
Source: Stats Canada - preliminary figures

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


Average House Prices by CityMar 2016Mar 2015Mar 2014
Yellowknife$406,620$377,244$328,945
Vancouver$1,093,267$891,652$801,543
Victoria$575,858$508,807$493,323
Edmonton$379,524$373,005$361,870
Calgary$455,220$457,422$462,994
Saskatoon$336,425$337,982$344,600
Regina$307,609$300,148$328,781
Toronto$688,181$613,933$557,684
Hamilton-Burlington$486,008$443,706$410,553
Ottawa-Carleton$368,798$362,918$359,286
Quebec City$259,851$262,214$252,400
Montreal$336,138$331,216$320,558
Fredericton$177,441$175,632$175,007
Saint John$154,700$301,769$169,978
Halifax-Dartmouth$281,822$277,377$268,333
Winnipeg$287,692$281,269$278,527
Source: CREA - Most Recent Month Reported

Average House Prices by ProvinceMar 2016Mar 2015Mar 2014
National$508,567$439,144$401,419
Yukon$322,267$307,800$328,954
Northwest Territories$406,620$377,244$328,945
British Columbia$771,620$641,799$562,316
Alberta$392,145$398,856$402,933
Saskatchewan$297,823$292,847$304,428
Manitoba$277,202$272,344$269,865
Ontario$521,178$466,404$435,046
Quebec$274,616$270,245$264,197
New Brunswick$154,371$150,807$156,795
Prince Edward Island$194,094$165,693$174,311
Nova Scotia$223,520$226,613$213,336
Newfoundland$258,563$273,645$288,865
Source: CREA - Most Recent Month Reported



 "Always Striving to be your Trusted Mortgage Advisor!"


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1 comment:

  1. This is really a nice blog in which you discuss about mortgage rates and trusted mortgage advisors, thanks for sharing this and keep sharing.

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