September 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 September issue of the News & Rate Advisor. Current Discount Mortgage Rates Sep 2015 Variable Rate 2.20% 1 Year 2.29% 2 Year 2.19% 3 Year 2.34% 4 Year 2.54% 5 Year 2.67% 7 Year 3.39% 10 Year 3.84% Prime Rate 2.70% * Rates subject to change and OAC. Canadian Qualifying Rate Sep 2015 Rate No rate defined for this month Source: Bank of Canada Current Posted Mortgage Rates Sep 2015 Sep 2014 Sep 2013 1 Year 0.00% 3.14% 3.14% 3 Year 0.00% 3.75% 3.95% 5 Year 0.00% 4.79% 5.34% Source: Bank of Canada Nationwide Building Permits Jul 2015 Jul 2014 Jul 2013 Residential $0 $4,933,591,000 $4,135,192,000 Commercial $0 $4,212,465,000 $3,857,984,000 Total $0 $9,146,056,000 $7,993,176,000 Source: Stats Canada - preliminary figures Current Bank of Canada Rate & Prime Rates Sep 2015 Sep 2014 Sep 2013 Bank Rate 0.75% 1.25% 1.25% Prime Rate 2.70% 3.00% 3.00% Source: Bank of Canada Average House Prices by City Jul 2015 Jul 2014 Jul 2013 Yellowknife $398,889 $393,815 $472,467 Vancouver $866,772 $805,061 $757,338 Victoria $519,379 $496,282 $482,908 Edmonton $372,910 $362,091 $345,335 Calgary $459,958 $460,790 $438,192 Saskatoon $350,246 $350,699 $323,441 Regina $309,696 $327,104 $311,759 Toronto $609,236 $550,700 $513,246 Hamilton-Burlington $434,730 $412,694 $383,240 Ottawa-Carleton $369,718 $358,600 $362,346 Quebec City $276,561 $274,862 $265,785 Montreal $341,594 $338,988 $329,339 Fredericton $178,479 $167,455 $178,883 Saint John $178,089 $182,918 $169,592 Halifax-Dartmouth $287,288 $287,288 $275,046 Winnipeg $281,684 $268,817 $262,727 Source: CREA - Most Recent Month Reported Average House Prices by Province Jul 2015 Jul 2014 Jul 2013 National $437,699 $401,585 $382,373 Yukon $351,916 $278,518 $311,481 Northwest Territories $398,889 $393,815 $472,467 British Columbia $608,294 $548,162 $534,360 Alberta $394,977 $395,552 $379,696 Saskatchewan $305,431 $304,816 $285,147 Manitoba $273,164 $264,171 $253,714 Ontario $454,098 $416,938 $393,984 Quebec $278,760 $276,194 $272,033 New Brunswick $168,412 $164,146 $159,502 Prince Edward Island $171,140 $153,964 $169,864 Nova Scotia $217,236 $224,287 $215,094 Newfoundland $275,072 $294,815 $288,517 Source: CREA - Most Recent Month Reported

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