Wednesday 15 August 2018

August News and Rate Advisor

Welcome to the August issue of the News & Rate Advisor.
Current Discount Mortgage Rates for Aug 2018
Conventional1 High Ratio2
Variable Rate 3.00% 3.14%
1 Year 3.14% 3.14%
3 Year 3.54% 3.34%
5 Year 3.74% 3.44%
Prime Rate 3.70% 3.70%
Canadian Qualifying Rate Aug 2018
Rate 5.34%
Source: Bank of Canada
Current Bank of Canada Rate & Prime Rates Aug 2018 Aug 2017 Aug 2016
Bank Rate 1.75% 1.00% 0.50%
Prime Rate 3.70% 2.95% 2.70%
Source: Bank of Canada

Nationwide Building Permits Jun 2018 Jun 2017 Jun 2016
Residential $6,271,516,000 $5,122,069,000 $4,108,128,000
Commercial $3,826,013,000 $3,088,589,000 $2,313,366,000
Total $10,097,529,000 $8,210,658,000 $6,421,494,000
Source: Stats Canada - preliminary figures
Average House Prices by Province Jun 2018 Jun 2017 Jun 2016
National $495,797 $504,458 $503,301
Yukon $377,400 $380,580 $351,768
Northwest Territories $485,985 $414,505 $380,284
British Columbia $716,259 $725,704 $694,925
Alberta $402,354 $412,358 $397,269
Saskatchewan $294,199 $285,811 $297,837
Manitoba $302,490 $292,791 $284,798
Ontario $573,396 $547,402 $544,009
Quebec $313,372 $299,827 $287,637
New Brunswick $191,808 $177,807 $170,044
Prince Edward Island $204,462 $219,235 $192,115
Nova Scotia $245,472 $240,776 $226,272
Newfoundland $255,989 $258,235 $270,664
Source: CREA - Most Recent Month Reported
Average House Prices by City Jun 2018 Jun 2017 Jun 2016
Yellowknife $485,985 $414,505 $380,284
Vancouver $1,093,600 $1,053,655 $1,026,207
Victoria $675,800 $674,952 $587,908
Edmonton $335,100 $393,212 $378,045
Calgary $431,300 $483,106 $466,717
Saskatoon $297,600 $338,709 $334,529
Regina $279,700 $294,991 $321,726
Toronto $772,100 $793,915 $746,546
Hamilton-Burlington $549,537 $560,113 $513,971
Ottawa-Carleton $389,200 $410,032 $378,389
Quebec City $288,643 $277,041 $273,869
Montreal $344,800 $373,780 $353,535
Fredericton $203,414 $194,571 $189,239
Saint John $196,323 $188,119 $179,633
Halifax-Dartmouth $308,761 $290,008 $290,421
Winnipeg $312,173 $302,900 $294,619
Source: CREA - Most Recent Month Reported