May News and Rate Advisor

Welcome to the May issue of the News & Rate Advisor.

Current Discount Mortgage Rates for May 2018		Conventional1	High Ratio2
Variable Rate		2.80%	2.41%
1 Year		3.09%	3.19%
3 Year		3.49%	3.39%
5 Year		3.49%	3.44%
Prime Rate		3.45%	3.45%
Note: * Rates subject to change and OAC. (1) Conventional - Uninsured, (2) High Ratio - Insured

Canadian Qualifying Rate	May 2018
Rate	5.34%

Source: Bank of Canada

Current Bank of Canada Rate & Prime Rates	May 2018	May 2017	May 2016
Bank Rate	1.50%	0.75%	0.75%
Prime Rate	3.45%	2.70%	2.70%

Source: Bank of Canada

Nationwide Building Permits	Mar 2018	Mar 2017	Mar 2016
Residential	$5,380,048,000	$4,587,636,000	$4,425,639,000
Commercial	$3,019,919,000	$2,481,015,000	$2,486,166,000
Total	$8,399,967,000	$7,068,651,000	$6,911,805,000

Source: Stats Canada - preliminary figures

Average House Prices by Province	Mar 2018	Mar 2017	Mar 2016
National	$491,065	$548,517	$508,567
Yukon	$361,898	$352,774	$322,267
Northwest Territories	$429,808	$394,677	$406,620
British Columbia	$726,803	$690,597	$771,620
Alberta	$392,493	$404,804	$392,145
Saskatchewan	$281,645	$294,787	$297,823
Manitoba	$293,149	$289,503	$277,202
Ontario	$576,950	$672,584	$521,178
Quebec	$295,598	$288,691	$274,616
New Brunswick	$164,527	$162,099	$154,371
Prince Edward Island	$210,719	$187,977	$194,094
Nova Scotia	$233,515	$222,411	$223,520
Newfoundland	$248,897	$251,555	$258,563

Source: CREA - Most Recent Month Reported

Average House Prices by City	Mar 2018	Mar 2017	Mar 2016
Yellowknife	$429,808	$394,677	$406,620
Vancouver	$1,084,000	$991,690	$1,093,267
Victoria	$658,600	$640,802	$575,858
Edmonton	$333,500	$371,680	$379,524
Calgary	$430,400	$472,491	$455,220
Saskatoon	$293,200	$343,112	$336,425
Regina	$280,000	$316,341	$307,609
Toronto	$760,800	$916,567	$688,181
Hamilton-Burlington	$546,912	$607,846	$486,008
Ottawa-Carleton	$376,800	$388,400	$368,798
Quebec City	$260,481	$256,929	$259,851
Montreal	$338,200	$359,708	$336,138
Fredericton	$164,935	$182,850	$177,441
Saint John	$161,402	$166,430	$154,700
Halifax-Dartmouth	$300,588	$294,246	$281,822
Winnipeg	$304,111	$298,329	$287,692

Source: CREA - Most Recent Month Reported