January 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 January issue of the News & Rate Advisor. Current Discount Mortgage Rates Jan 2016 Variable Rate 2.30% 1 Year 2.29% 2 Year 2.19% 3 Year 2.24% 4 Year 2.54% 5 Year 2.94% 7 Year 3.44% 10 Year 3.84% Prime Rate 2.70% * Rates subject to change and OAC. Canadian Qualifying Rate Jan 2016 Rate No rate defined for this month Source: Bank of Canada Current Posted Mortgage Rates Jan 2016 Jan 2015 Jan 2014 1 Year 0.00% 3.14% 3.14% 3 Year 0.00% 3.44% 3.75% 5 Year 0.00% 4.79% 5.24% Source: Bank of Canada Nationwide Building Permits Nov 2015 Nov 2014 Nov 2013 Residential $4,008,339,000 $4,382,756,000 $4,081,721,000 Commercial $2,226,367,000 $2,218,621,000 $2,679,245,000 Total $6,234,706,000 $6,601,377,000 $6,760,966,000 Source: Stats Canada - preliminary figures Current Bank of Canada Rate & Prime Rates Jan 2016 Jan 2015 Jan 2014 Bank Rate 0.75% 1.00% 1.25% Prime Rate 2.70% 2.85% 3.00% Source: Bank of Canada Average House Prices by City Nov 2015 Nov 2014 Nov 2013 Yellowknife $423,788 $205,500 $341,343 Vancouver $930,652 $801,450 $774,932 Victoria $495,209 $466,453 $454,703 Edmonton $369,559 $381,371 $339,703 Calgary $444,959 $462,031 $445,114 Saskatoon $339,465 $346,015 $334,440 Regina $309,240 $298,290 $306,631 Toronto $632,685 $577,936 $538,881 Hamilton-Burlington $431,566 $398,590 $368,947 Ottawa-Carleton $363,117 $358,196 $359,082 Quebec City $262,765 $265,825 $261,123 Montreal $346,723 $345,032 $320,693 Fredericton $158,857 $146,242 $159,892 Saint John $175,829 $191,082 $170,126 Halifax-Dartmouth $296,205 $266,362 $267,717 Winnipeg $278,134 $266,945 $261,832 Source: CREA - Most Recent Month Reported Average House Prices by Province Nov 2015 Nov 2014 Nov 2013 National $456,186 $413,649 $391,085 Yukon $343,942 $242,694 $353,498 Northwest Territories $423,788 $205,500 $341,343 British Columbia $668,317 $574,694 $557,586 Alberta $385,430 $407,071 $385,217 Saskatchewan $294,110 $295,487 $290,859 Manitoba $271,045 $261,180 $255,636 Ontario $471,224 $433,561 $408,251 Quebec $283,560 $279,014 $264,690 New Brunswick $155,127 $160,766 $156,787 Prince Edward Island $167,875 $180,487 $151,363 Nova Scotia $216,717 $206,251 $209,997 Newfoundland $271,918 $273,177 $282,123 Source: CREA - Most Recent Month Reported

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