Monday 15 May 2017

May News & Rate Advisor

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

Current Discount Mortgage Rates for May 2017Rate
Variable Rate2.30%
1 Year2.29%
3 Year2.44%
5 Year2.69%
Prime Rate2.70%


Canadian Qualifying RateMay 2017
Rate4.64%
Source: Bank of Canada


Current Bank of Canada Rate & Prime RatesMay 2017May 2016May 2015
Bank Rate0.75%0.75%1.00%
Prime Rate2.70%2.70%2.85%
Source: Bank of Canada



Nationwide Building PermitsMar 2017Mar 2016Mar 2015
Residential$4,583,975,000$4,425,639,000$4,418,463,000
Commercial$2,417,659,000$2,486,166,000$2,448,640,000
Total$7,001,634,000$6,911,805,000$6,867,103,000
Source: Stats Canada - preliminary figures


Average House Prices by ProvinceMar 2017Mar 2016Mar 2015
National$548,517$508,567$439,144
Yukon$352,774$322,267$307,800
Northwest Territories$394,677$406,620$377,244
British Columbia$690,597$771,620$641,799
Alberta$404,804$392,145$398,856
Saskatchewan$294,787$297,823$292,847
Manitoba$289,503$277,202$272,344
Ontario$672,584$521,178$466,404
Quebec$288,691$274,616$270,245
New Brunswick$162,099$154,371$150,807
Prince Edward Island$187,977$194,094$165,693
Nova Scotia$222,411$223,520$226,613
Newfoundland$251,555$258,563$273,645
Source: CREA - Most Recent Month Reported

Average House Prices by CityMar 2017Mar 2016Mar 2015
Yellowknife$394,677$406,620$377,244
Vancouver$991,690$1,093,267$891,652
Victoria$640,802$575,858$508,807
Edmonton$371,680$379,524$373,005
Calgary$472,491$455,220$457,422
Saskatoon$343,112$336,425$337,982
Regina$316,341$307,609$300,148
Toronto$916,567$688,181$613,933
Hamilton-Burlington$607,846$486,008$443,706
Ottawa-Carleton$388,400$368,798$362,918
Quebec City$256,929$259,851$262,214
Montreal$359,708$336,138$331,216
Fredericton$182,850$177,441$175,632
Saint John$166,430$154,700$301,769
Halifax-Dartmouth$294,246$281,822$277,377
Winnipeg$298,329$287,692$281,269
Source: CREA - Most Recent Month Reported