Monday 16 January 2017

January News and Rate Advisor

Welcome to the January issue of the News & Rate Advisor.

Current Discount Mortgage RatesJan 2017
Variable Rate2.25%
1 Year2.29%
2 Year2.29%
3 Year2.44%
4 Year2.59%
5 Year2.74%
7 Year3.19%
10 Year3.69%
Prime Rate2.70%


Canadian Qualifying RateJan 2017
Rate4.64%
Source: Bank of Canada


Current Posted Mortgage RatesJan 2017Jan 2016Jan 2015
1 Year3.14%3.14%3.14%
3 Year3.39%3.39%3.44%
5 Year4.64%4.64%4.79%
Source: Bank of Canada


Nationwide Building PermitsNov 2016Nov 2015Nov 2014
Residential$5,139,055,000$4,002,881,000$4,382,756,000
Commercial$2,625,521,000$2,214,399,000$2,218,621,000
Total$7,764,576,000$6,217,280,000$6,601,377,000
Source: Stats Canada - preliminary figures


Current Bank of Canada Rate & Prime RatesJan 2017Jan 2016Jan 2015
Bank Rate0.75%0.75%1.00%
Prime Rate2.70%2.70%2.85%
Source: Bank of Canada



Average House Prices by CityNov 2016Nov 2015Nov 2014
Yellowknife$423,222$423,788$205,500
Vancouver$895,084$930,652$801,450
Victoria$639,687$495,209$466,453
Edmonton$373,174$369,559$381,371
Calgary$468,659$444,959$462,031
Saskatoon$335,660$339,465$346,015
Regina$297,980$309,240$298,290
Toronto$776,684$632,685$577,936
Hamilton-Burlington$510,475$431,566$398,590
Ottawa-Carleton$379,343$363,117$358,196
Quebec City$259,562$262,765$265,825
Montreal$366,956$346,723$345,032
Fredericton$172,925$158,857$146,242
Saint John$168,865$175,829$191,082
Halifax-Dartmouth$282,700$296,205$266,362
Winnipeg$279,557$278,134$266,945
Source: CREA - Most Recent Month Reported


Average House Prices by ProvinceNov 2016Nov 2015Nov 2014
National$489,591$456,186$413,649
Yukon$289,312$343,942$242,694
Northwest Territories$423,222$423,788$205,500
British Columbia$625,871$668,317$574,694
Alberta$395,648$385,430$407,071
Saskatchewan$292,303$294,110$295,487
Manitoba$282,511$271,045$261,180
Ontario$571,696$471,224$433,561
Quebec$291,232$283,560$279,014
New Brunswick$158,295$155,127$160,766
Prince Edward Island$165,406$167,875$180,487
Nova Scotia$218,332$216,717$206,251
Newfoundland$265,395$271,918$273,177
Source: CREA - Most Recent Month Reported

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