Wednesday 16 December 2015

December News and Rate Advisor



Courtesy of  Phil Romano, CPMB 905-516-1150

Certified Professional Mortgage Broker #M10002221
Verico House of Mortgage Experts
philromano@vhme.ca
www.philrom.com

Welcome to the December issue of the News & Rate Advisor.
Current Discount Mortgage RatesDec 2015
Variable Rate2.20%
1 Year2.29%
2 Year2.19%
3 Year2.24%
4 Year2.54%
5 Year2.84%
7 Year3.44%
10 Year3.84%
Prime Rate2.70%
Canadian Qualifying RateDec 2015
Rate4.64%
Source: Bank of Canada

Current Posted Mortgage RatesDec 2015Dec 2014Dec 2013
1 Year3.14%3.14%3.14%
3 Year3.39%3.44%3.95%
5 Year4.64%4.79%5.34%
Source: Bank of Canada

Nationwide Building PermitsOct 2015Oct 2014Oct 2013
Residential$4,841,850,000$4,494,206,000$4,430,635,000
Commercial$2,863,541,000$3,144,482,000$2,806,537,000
Total$7,705,391,000$7,638,688,000$7,237,172,000
Source: Stats Canada - preliminary figures

Current Bank of Canada Rate & Prime RatesDec 2015Dec 2014Dec 2013
Bank Rate0.75%1.25%1.25%
Prime Rate2.70%3.00%3.00%
Source: Bank of Canada


Average House Prices by CityOct 2015Oct 2014Oct 2013
Yellowknife$330,708$405,332$402,000
Vancouver$947,334$819,336$775,542
Victoria$543,459$505,859$473,820
Edmonton$371,756$365,520$332,461
Calgary$444,535$465,047$436,216
Saskatoon$342,553$349,322$331,750
Regina$316,025$331,161$316,810
Toronto$630,876$587,505$539,058
Hamilton-Burlington$436,562$420,565$384,534
Ottawa-Carleton$358,950$357,887$363,240
Quebec City$254,831$258,406$263,803
Montreal$339,436$344,273$333,610
Fredericton$176,788$169,063$175,968
Saint John$175,557$158,041$153,697
Halifax-Dartmouth$264,487$264,447$265,339
Winnipeg$271,759$270,605$271,946
Source: CREA - Most Recent Month Reported

Average House Prices by ProvinceOct 2015Oct 2014Oct 2013
National$454,976$419,699$391,820
Yukon$356,290$275,750$352,932
Northwest Territories$330,708$405,332$402,000
British Columbia$667,480$575,504$540,432
Alberta$384,381$400,027$377,084
Saskatchewan$292,949$306,812$289,890
Manitoba$264,739$263,159$264,148
Ontario$471,654$445,109$413,408
Quebec$275,701$277,677$273,436
New Brunswick$161,338$153,312$155,414
Prince Edward Island$163,236$174,871$154,576
Nova Scotia$207,657$202,749$203,144
Newfoundland$258,459$266,346$272,267
Source: CREA - Most Recent Month Reported



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