Monday 15 January 2018

January News and Rate Advisor

Welcome to the January issue of the News & Rate Advisor.
Current Discount Mortgage Rates for Jan 2018
Rate
Variable Rate 2.45%
1 Year 2.64%
3 Year 2.84%
5 Year 3.04%
Prime Rate 3.20%
Canadian Qualifying Rate Jan 2018
Rate 4.99%
Source: Bank of Canada
Current Bank of Canada Rate & Prime Rates Jan 2018 Jan 2017 Jan 2016
Bank Rate 1.25% 0.75% 0.75%
Prime Rate 3.20% 2.70% 2.70%
Source: Bank of Canada

Nationwide Building Permits Nov 2017 Nov 2016 Nov 2015
Residential $4,754,561,000 $5,097,630,000 $4,002,881,000
Commercial $2,902,782,000 $2,666,635,000 $2,214,399,000
Total $7,657,343,000 $7,764,265,000 $6,217,280,000
Source: Stats Canada - preliminary figures
Average House Prices by Province Nov 2017 Nov 2016 Nov 2015
National $503,852 $489,591 $456,186
Yukon $317,892 $289,312 $343,942
Northwest Territories $328,507 $423,222 $423,788
British Columbia $722,905 $625,871 $668,317
Alberta $385,030 $395,648 $385,430
Saskatchewan $289,810 $292,303 $294,110
Manitoba $286,221 $282,511 $271,045
Ontario $564,193 $571,696 $471,224
Quebec $305,470 $291,232 $283,560
New Brunswick $157,960 $158,295 $155,127
Prince Edward Island $204,577 $165,406 $167,875
Nova Scotia $229,123 $218,332 $216,717
Newfoundland $249,480 $265,395 $271,918
Source: CREA - Most Recent Month Reported
Average House Prices by City Nov 2017 Nov 2016 Nov 2015
Yellowknife $328,507 $423,222 $423,788
Vancouver $1,046,900 $895,084 $930,652
Victoria $621,900 $639,687 $495,209
Edmonton $370,397 $373,174 $369,559
Calgary $430,700 $468,659 $444,959
Saskatoon $296,700 $335,660 $339,465
Regina $284,100 $297,980 $309,240
Toronto $744,700 $776,684 $632,685
Hamilton-Burlington $531,021 $510,475 $431,566
Ottawa-Carleton $369,400 $379,343 $363,117
Quebec City $259,298 $259,562 $262,765
Montreal $330,500 $366,956 $346,723
Fredericton $172,006 $172,925 $158,857
Saint John $159,576 $168,865 $175,829
Halifax-Dartmouth $298,507 $282,700 $296,205
Winnipeg $293,856 $279,557 $278,134
Source: CREA - Most Recent Month Reported