Monday 17 December 2018

December News and Rate Advisor

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

Current Discount Mortgage Rates for Dec 2018Conventional1High Ratio2
Variable Rate3.30%2.75%
1 Year3.49%3.49%
3 Year3.65%3.39%
5 Year3.79%3.59%
Prime Rate3.95%3.95%


Canadian Qualifying RateDec 2018
Rate5.34%
Source: Bank of Canada


Current Bank of Canada Rate & Prime RatesDec 2018Dec 2017Dec 2016
Bank Rate2.00%1.25%0.75%
Prime Rate3.95%3.20%2.70%
Source: Bank of Canada



Nationwide Building PermitsOct 2018Oct 2017Oct 2016
Residential$5,821,791,000$4,754,561,000$5,220,944,000
Commercial$3,452,960,000$3,541,688,000$2,549,673,000
Total$9,274,751,000$8,296,249,000$7,770,617,000
Source: Stats Canada - preliminary figures


Average House Prices by ProvinceOct 2018Oct 2017Oct 2016
National$496,763$481,922$481,994
Yukon$401,491$362,733$313,723
Northwest Territories$427,371$428,913$308,310
British Columbia$689,719$719,946$606,787
Alberta$380,664$395,429$391,692
Saskatchewan$281,660$280,330$284,545
Manitoba$294,112$284,952$273,573
Ontario$588,440$562,654$561,896
Quebec$320,156$307,745$288,979
New Brunswick$163,111$162,740$160,651
Prince Edward Island$192,014$217,182$189,979
Nova Scotia$229,770$227,245$213,046
Newfoundland$239,373$248,956$254,207
Source: CREA - Most Recent Month Reported


Average House Prices by CityOct 2018Oct 2017Oct 2016
Yellowknife$427,371$428,913$308,310
Vancouver$1,062,100$1,042,300$891,705
Victoria$693,600$620,400$615,066
Edmonton$324,000$370,484$364,004
Calgary$422,000$433,000$450,279
Saskatoon$295,100$299,900$332,144
Regina$277,100$289,000$291,741
Toronto$766,300$747,800$762,975
Hamilton-Burlington$579,600$527,991$507,131
Ottawa-Carleton$393,400$369,200$366,639
Quebec City$280,787$278,672$269,925
Montreal$350,000$329,300$354,600
Fredericton$160,076$169,754$159,325
Saint John$166,766$168,575$178,673
Halifax-Dartmouth$288,293$286,026$279,611
Winnipeg$303,860$294,843$279,421
Source: CREA - Most Recent Month Reported