Welcome to the July issue of the News & Rate Advisor.
| Current Discount Mortgage Rates | Jul 2016 |
| Variable Rate | 2.35% |
| 1 Year | 2.29% |
| 2 Year | 2.24% |
| 3 Year | 2.29% |
| 4 Year | 2.49% |
| 5 Year | 2.49% |
| 7 Year | 3.44% |
| 10 Year | 3.84% |
| Prime Rate | 2.70% |
| * Rates subject to change and OAC. |
| Canadian Qualifying Rate | Jul 2016 |
| Rate | 4.74% |
Source: Bank of Canada
| Current Posted Mortgage Rates | Jul 2016 | Jul 2015 | Jul 2014 |
| 1 Year | 3.14% | 2.89% | 3.14% |
| 3 Year | 3.39% | 3.39% | 3.75% |
| 5 Year | 4.74% | 4.64% | 4.79% |
Source: Bank of Canada
| Nationwide Building Permits | May 2016 | May 2015 | May 2014 |
| Residential | $4,339,934,000 | $3,941,034,000 | $4,172,131,000 |
| Commercial | $2,451,105,000 | $2,802,125,000 | $2,871,096,000 |
| Total | $6,791,039,000 | $6,743,159,000 | $7,043,227,000 |
Source: Stats Canada - preliminary figures
| Current Bank of Canada Rate & Prime Rates | Jul 2016 | Jul 2015 | Jul 2014 |
| Bank Rate | 0.50% | 0.75% | 1.25% |
| Prime Rate | 2.70% | 2.70% | 3.00% |
Source: Bank of Canada
| Average House Prices by City | May 2016 | May 2015 | May 2014 |
| Yellowknife | $439,610 | $374,363 | $462,143 |
| Vancouver | $1,055,495 | $905,701 | $814,418 |
| Victoria | $585,994 | $527,770 | $496,378 |
| Edmonton | $382,695 | $381,111 | $371,871 |
| Calgary | $476,886 | $465,941 | $465,579 |
| Saskatoon | $338,153 | $345,907 | $338,195 |
| Regina | $326,656 | $320,393 | $317,662 |
| Toronto | $751,908 | $649,599 | $585,204 |
| Hamilton-Burlington | $497,792 | $447,019 | $406,007 |
| Ottawa-Carleton | $384,212 | $386,331 | $383,168 |
| Quebec City | $266,269 | $268,534 | $270,824 |
| Montreal | $354,533 | $338,685 | $335,937 |
| Fredericton | $208,115 | $179,674 | $196,656 |
| Saint John | $165,762 | $169,400 | $183,755 |
| Halifax-Dartmouth | $294,493 | $293,734 | $290,587 |
| Winnipeg | $290,063 | $287,587 | $287,026 |
Source: CREA - Most Recent Month Reported
| Average House Prices by Province | May 2016 | May 2015 | May 2014 |
| National | $509,460 | $450,886 | $416,584 |
| Yukon | $329,993 | $333,136 | $314,974 |
| Northwest Territories | $439,610 | $374,363 | $462,143 |
| British Columbia | $722,146 | $632,182 | $565,233 |
| Alberta | $402,751 | $405,105 | $405,294 |
| Saskatchewan | $297,303 | $304,356 | $301,409 |
| Manitoba | $283,058 | $279,729 | $279,668 |
| Ontario | $547,860 | $483,766 | $447,682 |
| Quebec | $285,171 | $276,937 | $276,919 |
| New Brunswick | $180,839 | $164,736 | $178,609 |
| Prince Edward Island | $172,581 | $167,391 | $177,533 |
| Nova Scotia | $232,597 | $244,608 | $215,298 |
| Newfoundland | $246,848 | $278,263 | $295,199 |
Source: CREA - Most Recent Month Reported
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