August News and Rate Advisor

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

Current Discount Mortgage Rates for Aug 2018		Conventional1	High Ratio2
Variable Rate		3.00%	3.14%
1 Year		3.14%	3.14%
3 Year		3.54%	3.34%
5 Year		3.74%	3.44%
Prime Rate		3.70%	3.70%
Note: * Rates subject to change and OAC. (1) Conventional - Uninsured, (2) High Ratio - Insured

Canadian Qualifying Rate	Aug 2018
Rate	5.34%

Source: Bank of Canada

Current Bank of Canada Rate & Prime Rates	Aug 2018	Aug 2017	Aug 2016
Bank Rate	1.75%	1.00%	0.50%
Prime Rate	3.70%	2.95%	2.70%

Source: Bank of Canada

Nationwide Building Permits	Jun 2018	Jun 2017	Jun 2016
Residential	$6,271,516,000	$5,122,069,000	$4,108,128,000
Commercial	$3,826,013,000	$3,088,589,000	$2,313,366,000
Total	$10,097,529,000	$8,210,658,000	$6,421,494,000

Source: Stats Canada - preliminary figures

Average House Prices by Province	Jun 2018	Jun 2017	Jun 2016
National	$495,797	$504,458	$503,301
Yukon	$377,400	$380,580	$351,768
Northwest Territories	$485,985	$414,505	$380,284
British Columbia	$716,259	$725,704	$694,925
Alberta	$402,354	$412,358	$397,269
Saskatchewan	$294,199	$285,811	$297,837
Manitoba	$302,490	$292,791	$284,798
Ontario	$573,396	$547,402	$544,009
Quebec	$313,372	$299,827	$287,637
New Brunswick	$191,808	$177,807	$170,044
Prince Edward Island	$204,462	$219,235	$192,115
Nova Scotia	$245,472	$240,776	$226,272
Newfoundland	$255,989	$258,235	$270,664

Source: CREA - Most Recent Month Reported

Average House Prices by City	Jun 2018	Jun 2017	Jun 2016
Yellowknife	$485,985	$414,505	$380,284
Vancouver	$1,093,600	$1,053,655	$1,026,207
Victoria	$675,800	$674,952	$587,908
Edmonton	$335,100	$393,212	$378,045
Calgary	$431,300	$483,106	$466,717
Saskatoon	$297,600	$338,709	$334,529
Regina	$279,700	$294,991	$321,726
Toronto	$772,100	$793,915	$746,546
Hamilton-Burlington	$549,537	$560,113	$513,971
Ottawa-Carleton	$389,200	$410,032	$378,389
Quebec City	$288,643	$277,041	$273,869
Montreal	$344,800	$373,780	$353,535
Fredericton	$203,414	$194,571	$189,239
Saint John	$196,323	$188,119	$179,633
Halifax-Dartmouth	$308,761	$290,008	$290,421
Winnipeg	$312,173	$302,900	$294,619

Source: CREA - Most Recent Month Reported