April News and Rate Advisor

Welcome to the April issue of the News & Rate Advisor. Current Discount Mortgage Rates for Apr 2018 Conventional1 High Ratio2 Variable Rate 2.45% 2.41% 1 Year 2.99% 3.19% 3 Year 3.44% 3.39% 5 Year 3.49% 3.24% Prime Rate 3.45% 3.45% Note: * Rates subject to change and OAC. (1) Conventional - Uninsured, (2) High Ratio - Insured Canadian Qualifying Rate Apr 2018 Rate 5.14% Source: Bank of Canada Current Bank of Canada Rate & Prime Rates Apr 2018 Apr 2017 Apr 2016 Bank Rate 1.50% 0.75% 0.75% Prime Rate 3.45% 2.70% 2.70% Source: Bank of Canada Nationwide Building Permits Feb 2018 Feb 2017 Feb 2016 Residential $5,295,916,000 $5,002,162,000 $4,212,864,000 Commercial $2,871,418,000 $2,429,048,000 $69,529,740,000 Total $8,167,334,000 $7,431,210,000 $73,742,604,000 Source: Stats Canada - preliminary figures Average House Prices by Province Feb 2018 Feb 2017 Feb 2016 National $494,309 $519,521 $503,057 Yukon $347,545 $323,076 $312,640 Northwest Territories $407,036 $335,300 $348,997 British Columbia $748,149 $688,011 $779,419 Alberta $395,016 $389,943 $388,037 Saskatchewan $291,771 $280,384 $285,649 Manitoba $286,586 $288,263 $272,609 Ontario $569,340 $634,341 $511,967 Quebec $296,071 $280,333 $272,937 New Brunswick $169,023 $163,362 $149,942 Prince Edward Island $207,373 $212,033 $156,895 Nova Scotia $240,600 $209,889 $214,378 Newfoundland $247,606 $248,317 $267,311 Source: CREA - Most Recent Month Reported Average House Prices by City Feb 2018 Feb 2017 Feb 2016 Yellowknife $407,036 $335,300 $348,997 Vancouver $1,071,800 $995,583 $1,104,133 Victoria $642,800 $642,204 $545,911 Edmonton $374,361 $359,468 $363,266 Calgary $428,500 $464,834 $453,175 Saskatoon $292,800 $326,714 $323,761 Regina $278,700 $300,874 $308,946 Toronto $751,700 $875,983 $685,278 Hamilton-Burlington $552,661 $556,630 $456,083 Ottawa-Carleton $373,200 $382,268 $356,180 Quebec City $262,221 $252,303 $260,012 Montreal $334,600 $348,635 $334,815 Fredericton $179,981 $161,590 $165,374 Saint John $171,596 $178,351 $154,408 Halifax-Dartmouth $315,723 $279,362 $266,869 Winnipeg $297,929 $288,097 $278,087 Source: CREA - Most Recent Month Reported