Welcome to the February issue of the News & Rate Advisor.
| Current Discount Mortgage Rates | Feb 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 | Feb 2016 |
| Rate | 4.64% |
Source: Bank of Canada
| Current Posted Mortgage Rates | Feb 2016 | Feb 2015 | Feb 2014 |
| 1 Year | 3.14% | 2.89% | 3.14% |
| 3 Year | 3.39% | 3.39% | 3.75% |
| 5 Year | 4.64% | 4.74% | 5.24% |
Source: Bank of Canada
| Nationwide Building Permits | Dec 2015 | Dec 2014 | Dec 2013 |
| Residential | $4,653,518,000 | $4,414,127,000 | $3,643,632,000 |
| Commercial | $2,269,391,000 | $2,620,878,000 | $2,793,178,000 |
| Total | $6,922,909,000 | $7,035,005,000 | $6,436,810,000 |
Source: Stats Canada - preliminary figures
| Current Bank of Canada Rate & Prime Rates | Feb 2016 | Feb 2015 | Feb 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 | Dec 2015 | Dec 2014 | Dec 2013 |
| Yellowknife | $327,707 | $302,100 | $444,817 |
| Vancouver | $980,974 | $819,384 | $785,574 |
| Victoria | $562,581 | $498,716 | $477,792 |
| Edmonton | $366,221 | $359,479 | $347,103 |
| Calgary | $451,297 | $452,968 | $439,389 |
| Saskatoon | $349,788 | $340,608 | $328,407 |
| Regina | $280,209 | $302,969 | $291,755 |
| Toronto | $609,110 | $556,602 | $520,398 |
| Hamilton-Burlington | $424,444 | $387,922 | $371,037 |
| Ottawa-Carleton | $359,777 | $349,479 | $341,793 |
| Quebec City | $267,352 | $265,819 | $261,123 |
| Montreal | $347,091 | $340,489 | $320,693 |
| Fredericton | $165,946 | $156,604 | $153,743 |
| Saint John | $152,762 | $175,840 | $190,728 |
| Halifax-Dartmouth | $283,075 | $270,945 | $269,797 |
| Winnipeg | $256,900 | $271,489 | $298,338 |
Source: CREA - Most Recent Month Reported
| Average House Prices by Province | Dec 2015 | Dec 2014 | Dec 2013 |
| National | $454,342 | $405,233 | $390,034 |
| Yukon | $340,083 | $285,447 | $361,867 |
| Northwest Territories | $327,707 | $302,100 | $444,817 |
| British Columbia | $700,943 | $585,718 | $568,419 |
| Alberta | $389,486 | $390,528 | $380,477 |
| Saskatchewan | $288,759 | $291,524 | $278,764 |
| Manitoba | $250,636 | $263,072 | $286,571 |
| Ontario | $450,512 | $417,767 | $395,698 |
| Quebec | $277,559 | $273,291 | $264,690 |
| New Brunswick | $154,176 | $155,078 | $160,867 |
| Prince Edward Island | $172,787 | $169,877 | $149,021 |
| Nova Scotia | $207,086 | $207,429 | $208,555 |
| Newfoundland | $267,093 | $273,769 | $289,279 |
Source: CREA - Most Recent Month Reported
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