Monday, 15 October 2018

October News and Rate Advisor

Welcome to the October issue of the News & Rate Advisor.
Current Discount Mortgage Rates for Oct 2018
Conventional1 High Ratio2
Variable Rate 2.65% 2.75%
1 Year 3.19% 3.19%
3 Year 3.34% 3.29%
5 Year 3.34% 3.29%
Prime Rate 3.70% 3.70%
Canadian Qualifying Rate Oct 2018
Rate 5.34%
Source: Bank of Canada
Current Bank of Canada Rate & Prime Rates Oct 2018 Oct 2017 Oct 2016
Bank Rate 1.75% 1.25% 0.75%
Prime Rate 3.70% 3.20% 2.70%
Source: Bank of Canada

Nationwide Building Permits Aug 2018 Aug 2017 Aug 2016
Residential $5,310,449,000 $4,887,519,000 $4,516,206,000
Commercial $3,801,749,000 $2,684,389,000 $2,856,502,000
Total $9,112,198,000 $7,571,908,000 $7,372,708,000
Source: Stats Canada - preliminary figures
Average House Prices by Province Aug 2018 Aug 2017 Aug 2016
National $475,591 $472,247 $456,722
Yukon $382,801 $311,149 $341,597
Northwest Territories $417,548 $447,334 $388,119
British Columbia $669,452 $678,152 $569,281
Alberta $384,200 $392,359 $390,615
Saskatchewan $281,088 $293,995 $298,001
Manitoba $292,584 $287,794 $273,387
Ontario $553,285 $518,613 $518,586
Quebec $312,866 $298,158 $289,656
New Brunswick $177,644 $161,160 $168,737
Prince Edward Island $212,654 $195,270 $195,925
Nova Scotia $228,070 $223,738 $209,989
Newfoundland $261,107 $258,198 $265,521
Source: CREA - Most Recent Month Reported
Average House Prices by City Aug 2018 Aug 2017 Aug 2016
Yellowknife $417,548 $447,334 $388,119
Vancouver $1,083,400 $1,029,700 $833,065
Victoria $692,700 $620,700 $570,196
Edmonton $330,000 $373,438 $369,956
Calgary $426,800 $436,500 $456,663
Saskatoon $293,900 $316,700 $349,716
Regina $277,600 $313,000 $309,634
Toronto $764,800 $755,400 $710,410
Hamilton-Burlington $578,000 $554,507 $496,894
Ottawa-Carleton $391,100 $365,200 $369,055
Quebec City $283,054 $266,072 $279,780
Montreal $345,600 $326,400 $358,935
Fredericton $187,714 $166,135 $187,411
Saint John $185,934 $172,803 $165,661
Halifax-Dartmouth $295,413 $284,037 $281,977
Winnipeg $302,100 $297,897 $278,718
Source: CREA - Most Recent Month Reported