Tuesday 16 February 2016

February Rate Advisor



Courtesy of  Phil Romano, CPMB 905-516-1150

Certified Professional Mortgage Broker #M10002221
Verico House of Mortgage Experts

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

Current Discount Mortgage RatesFeb 2016
Variable Rate2.30%
1 Year2.29%
2 Year2.19%
3 Year2.24%
4 Year2.54%
5 Year2.94%
7 Year3.44%
10 Year3.84%
Prime Rate2.70%
* Rates subject to change and OAC.


Canadian Qualifying RateFeb 2016
Rate4.64%
Source: Bank of Canada


Current Posted Mortgage RatesFeb 2016Feb 2015Feb 2014
1 Year3.14%2.89%3.14%
3 Year3.39%3.39%3.75%
5 Year4.64%4.74%5.24%
Source: Bank of Canada


Nationwide Building PermitsDec 2015Dec 2014Dec 2013
Residential$4,653,518,000$4,414,127,000$3,643,632,000
Commercial$2,269,391,000$2,620,878,000$2,793,178,000
Total$6,922,909,000$7,035,005,000$6,436,810,000
Source: Stats Canada - preliminary figures


Current Bank of Canada Rate & Prime RatesFeb 2016Feb 2015Feb 2014
Bank Rate0.75%1.00%1.25%
Prime Rate2.70%2.85%3.00%
Source: Bank of Canada



Average House Prices by CityDec 2015Dec 2014Dec 2013
Yellowknife$327,707$302,100$444,817
Vancouver$980,974$819,384$785,574
Victoria$562,581$498,716$477,792
Edmonton$366,221$359,479$347,103
Calgary$451,297$452,968$439,389
Saskatoon$349,788$340,608$328,407
Regina$280,209$302,969$291,755
Toronto$609,110$556,602$520,398
Hamilton-Burlington$424,444$387,922$371,037
Ottawa-Carleton$359,777$349,479$341,793
Quebec City$267,352$265,819$261,123
Montreal$347,091$340,489$320,693
Fredericton$165,946$156,604$153,743
Saint John$152,762$175,840$190,728
Halifax-Dartmouth$283,075$270,945$269,797
Winnipeg$256,900$271,489$298,338
Source: CREA - Most Recent Month Reported


Average House Prices by ProvinceDec 2015Dec 2014Dec 2013
National$454,342$405,233$390,034
Yukon$340,083$285,447$361,867
Northwest Territories$327,707$302,100$444,817
British Columbia$700,943$585,718$568,419
Alberta$389,486$390,528$380,477
Saskatchewan$288,759$291,524$278,764
Manitoba$250,636$263,072$286,571
Ontario$450,512$417,767$395,698
Quebec$277,559$273,291$264,690
New Brunswick$154,176$155,078$160,867
Prince Edward Island$172,787$169,877$149,021
Nova Scotia$207,086$207,429$208,555
Newfoundland$267,093$273,769$289,279
Source: CREA - Most Recent Month Reported



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