April 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 April issue of the News & Rate Advisor. Current Discount Mortgage Rates Apr 2015 Variable Rate 2.30% 1 Year 2.79% 2 Year 2.39% 3 Year 2.54% 4 Year 2.64% 5 Year 2.79% 7 Year 3.79% 10 Year 3.84% Prime Rate 2.85% * Rates subject to change and OAC. Canadian Qualifying Rate Apr 2015 Rate 4.64% Source: Bank of Canada Current Posted Mortgage Rates Apr 2015 Apr 2014 Apr 2013 1 Year 2.89% 3.14% 3.00% 3 Year 3.39% 3.75% 3.55% 5 Year 4.64% 4.79% 5.14% Source: Bank of Canada Nationwide Building Permits Feb 2015 Feb 2014 Feb 2013 Residential $4,116,277,000 $3,674,001,000 $3,548,005,000 Commercial $1,998,335,000 $2,498,291,000 $2,391,893,000 Total $6,114,612,000 $6,172,292,000 $5,939,898,000 Source: Stats Canada - preliminary figures Current Bank of Canada Rate & Prime Rates Apr 2015 Apr 2014 Apr 2013 Bank Rate 1.00% 1.25% 1.25% Prime Rate 2.85% 3.00% 3.00% Source: Bank of Canada Average House Prices by City Feb 2015 Feb 2014 Feb 2013 Yellowknife $296,200 $447,080 $301,980 Vancouver $879,069 $846,978 $760,976 Victoria $490,377 $483,720 $463,265 Edmonton $362,432 $359,973 $334,347 Calgary $443,744 $460,338 $438,755 Saskatoon $354,400 $335,562 $313,781 Regina $303,355 $300,667 $310,551 Toronto $596,163 $553,193 $510,580 Hamilton-Burlington $437,386 $398,239 $375,381 Ottawa-Carleton $359,759 $354,619 $348,386 Quebec City $255,698 $263,239 $267,826 Montreal $328,862 $320,993 $325,261 Fredericton $180,394 $181,612 $166,687 Saint John $171,269 $162,556 $171,191 Halifax-Dartmouth $280,035 $282,285 $259,606 Winnipeg $266,837 $264,636 $270,463 Source: CREA - Most Recent Month Reported Average House Prices by Province Feb 2015 Feb 2014 Feb 2013 National $431,812 $406,372 $368,895 Yukon $300,846 $331,352 $327,725 Northwest Territories $296,200 $447,080 $301,980 British Columbia $639,405 $611,688 $529,922 Alberta $385,804 $407,540 $378,685 Saskatchewan $298,574 $293,192 $280,915 Manitoba $262,441 $257,016 $259,397 Ontario $453,646 $423,691 $392,962 Quebec $267,054 $263,661 $271,912 New Brunswick $169,840 $159,201 $156,119 Prince Edward Island $164,774 $164,176 $157,361 Nova Scotia $217,881 $218,261 $211,772 Newfoundland $282,350 $308,851 $295,588 Source: CREA - Most Recent Month Reported

"Always Striving to be your Trusted Mortgage Advisor!"

Powered By GoMax Solutions