December 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 December issue of the News & Rate Advisor. Current Discount Mortgage Rates Dec 2015 Variable Rate 2.20% 1 Year 2.29% 2 Year 2.19% 3 Year 2.24% 4 Year 2.54% 5 Year 2.84% 7 Year 3.44% 10 Year 3.84% Prime Rate 2.70% * Rates subject to change and OAC. Canadian Qualifying Rate Dec 2015 Rate 4.64% Source: Bank of Canada Current Posted Mortgage Rates Dec 2015 Dec 2014 Dec 2013 1 Year 3.14% 3.14% 3.14% 3 Year 3.39% 3.44% 3.95% 5 Year 4.64% 4.79% 5.34% Source: Bank of Canada Nationwide Building Permits Oct 2015 Oct 2014 Oct 2013 Residential $4,841,850,000 $4,494,206,000 $4,430,635,000 Commercial $2,863,541,000 $3,144,482,000 $2,806,537,000 Total $7,705,391,000 $7,638,688,000 $7,237,172,000 Source: Stats Canada - preliminary figures Current Bank of Canada Rate & Prime Rates Dec 2015 Dec 2014 Dec 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 Oct 2015 Oct 2014 Oct 2013 Yellowknife $330,708 $405,332 $402,000 Vancouver $947,334 $819,336 $775,542 Victoria $543,459 $505,859 $473,820 Edmonton $371,756 $365,520 $332,461 Calgary $444,535 $465,047 $436,216 Saskatoon $342,553 $349,322 $331,750 Regina $316,025 $331,161 $316,810 Toronto $630,876 $587,505 $539,058 Hamilton-Burlington $436,562 $420,565 $384,534 Ottawa-Carleton $358,950 $357,887 $363,240 Quebec City $254,831 $258,406 $263,803 Montreal $339,436 $344,273 $333,610 Fredericton $176,788 $169,063 $175,968 Saint John $175,557 $158,041 $153,697 Halifax-Dartmouth $264,487 $264,447 $265,339 Winnipeg $271,759 $270,605 $271,946 Source: CREA - Most Recent Month Reported Average House Prices by Province Oct 2015 Oct 2014 Oct 2013 National $454,976 $419,699 $391,820 Yukon $356,290 $275,750 $352,932 Northwest Territories $330,708 $405,332 $402,000 British Columbia $667,480 $575,504 $540,432 Alberta $384,381 $400,027 $377,084 Saskatchewan $292,949 $306,812 $289,890 Manitoba $264,739 $263,159 $264,148 Ontario $471,654 $445,109 $413,408 Quebec $275,701 $277,677 $273,436 New Brunswick $161,338 $153,312 $155,414 Prince Edward Island $163,236 $174,871 $154,576 Nova Scotia $207,657 $202,749 $203,144 Newfoundland $258,459 $266,346 $272,267 Source: CREA - Most Recent Month Reported

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