Tuesday 15 May 2018

May News and Rate Advisor

Welcome to the May issue of the News & Rate Advisor.
Current Discount Mortgage Rates for May 2018
Conventional1 High Ratio2
Variable Rate 2.80% 2.41%
1 Year 3.09% 3.19%
3 Year 3.49% 3.39%
5 Year 3.49% 3.44%
Prime Rate 3.45% 3.45%
Canadian Qualifying Rate May 2018
Rate 5.34%
Source: Bank of Canada
Current Bank of Canada Rate & Prime Rates May 2018 May 2017 May 2016
Bank Rate 1.50% 0.75% 0.75%
Prime Rate 3.45% 2.70% 2.70%
Source: Bank of Canada

Nationwide Building Permits Mar 2018 Mar 2017 Mar 2016
Residential $5,380,048,000 $4,587,636,000 $4,425,639,000
Commercial $3,019,919,000 $2,481,015,000 $2,486,166,000
Total $8,399,967,000 $7,068,651,000 $6,911,805,000
Source: Stats Canada - preliminary figures
Average House Prices by Province Mar 2018 Mar 2017 Mar 2016
National $491,065 $548,517 $508,567
Yukon $361,898 $352,774 $322,267
Northwest Territories $429,808 $394,677 $406,620
British Columbia $726,803 $690,597 $771,620
Alberta $392,493 $404,804 $392,145
Saskatchewan $281,645 $294,787 $297,823
Manitoba $293,149 $289,503 $277,202
Ontario $576,950 $672,584 $521,178
Quebec $295,598 $288,691 $274,616
New Brunswick $164,527 $162,099 $154,371
Prince Edward Island $210,719 $187,977 $194,094
Nova Scotia $233,515 $222,411 $223,520
Newfoundland $248,897 $251,555 $258,563
Source: CREA - Most Recent Month Reported
Average House Prices by City Mar 2018 Mar 2017 Mar 2016
Yellowknife $429,808 $394,677 $406,620
Vancouver $1,084,000 $991,690 $1,093,267
Victoria $658,600 $640,802 $575,858
Edmonton $333,500 $371,680 $379,524
Calgary $430,400 $472,491 $455,220
Saskatoon $293,200 $343,112 $336,425
Regina $280,000 $316,341 $307,609
Toronto $760,800 $916,567 $688,181
Hamilton-Burlington $546,912 $607,846 $486,008
Ottawa-Carleton $376,800 $388,400 $368,798
Quebec City $260,481 $256,929 $259,851
Montreal $338,200 $359,708 $336,138
Fredericton $164,935 $182,850 $177,441
Saint John $161,402 $166,430 $154,700
Halifax-Dartmouth $300,588 $294,246 $281,822
Winnipeg $304,111 $298,329 $287,692
Source: CREA - Most Recent Month Reported