May 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 May issue of the News & Rate Advisor. Current Discount Mortgage Rates May 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 May 2015 Rate 4.64% Source: Bank of Canada Current Posted Mortgage Rates May 2015 May 2014 May 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 Mar 2015 Mar 2014 Mar 2013 Residential $4,418,463,000 $3,672,691,000 $3,597,733,000 Commercial $2,448,640,000 $2,300,869,000 $2,700,725,000 Total $6,867,103,000 $5,973,560,000 $6,298,458,000 Source: Stats Canada - preliminary figures Current Bank of Canada Rate & Prime Rates May 2015 May 2014 May 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 Mar 2015 Mar 2014 Mar 2013 Yellowknife $377,244 $328,945 $417,875 Vancouver $891,652 $801,543 $759,340 Victoria $508,807 $493,323 $474,937 Edmonton $373,005 $361,870 $350,723 Calgary $457,422 $462,994 $441,424 Saskatoon $337,982 $344,600 $331,249 Regina $300,148 $328,781 $314,353 Toronto $613,933 $557,684 $519,879 Hamilton-Burlington $443,706 $410,553 $388,147 Ottawa-Carleton $362,918 $359,286 $359,321 Quebec City $262,214 $252,400 $266,897 Montreal $331,216 $320,558 $326,259 Fredericton $175,632 $175,007 $182,540 Saint John $301,769 $169,978 $164,182 Halifax-Dartmouth $277,377 $268,333 $282,048 Winnipeg $281,269 $278,527 $271,198 Source: CREA - Most Recent Month Reported Average House Prices by Province Mar 2015 Mar 2014 Mar 2013 National $439,144 $401,419 $378,532 Yukon $307,800 $328,954 $331,520 Northwest Territories $377,244 $328,945 $417,875 British Columbia $641,799 $562,316 $540,662 Alberta $398,856 $402,933 $386,330 Saskatchewan $292,847 $304,428 $291,094 Manitoba $272,344 $269,865 $257,657 Ontario $466,404 $435,046 $405,780 Quebec $270,245 $264,197 $272,531 New Brunswick $150,807 $156,795 $163,566 Prince Edward Island $165,693 $174,311 $151,243 Nova Scotia $226,613 $213,336 $222,688 Newfoundland $273,645 $288,865 $281,210 Source: CREA - Most Recent Month Reported

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