Thursday 15 March 2018

March News and Rate Advisor

Welcome to the March issue of the News & Rate Advisor.
Current Discount Mortgage Rates for Mar 2018
Rate
Variable Rate 2.45%
1 Year 2.64%
3 Year 2.84%
5 Year 3.04%
Prime Rate 3.45%
Canadian Qualifying Rate Mar 2018
Rate 5.14%
Source: Bank of Canada
Current Bank of Canada Rate & Prime Rates Mar 2018 Mar 2017 Mar 2016
Bank Rate 1.50% 0.75% 0.75%
Prime Rate 3.45% 2.70% 2.70%
Source: Bank of Canada

Nationwide Building Permits Jan 2018 Jan 2017 Jan 2016
Residential $5,324,914,000 $5,092,960,000 $4,011,352,000
Commercial $3,088,836,000 $2,549,196,000 $2,385,097,000
Total $8,413,750,000 $7,642,156,000 $6,396,449,000
Source: Stats Canada - preliminary figures
Average House Prices by Province Jan 2018 Jan 2017 Jan 2016
National $481,562 $470,253 $470,297
Yukon $326,619 $333,353 $312,440
Northwest Territories $372,550 $341,890 $343,856
British Columbia $721,061 $621,093 $752,906
Alberta $380,230 $383,040 $371,620
Saskatchewan $287,086 $288,703 $288,177
Manitoba $270,303 $267,068 $264,007
Ontario $543,988 $556,631 $466,053
Quebec $293,646 $283,984 $269,635
New Brunswick $168,522 $161,656 $150,538
Prince Edward Island $222,533 $188,246 $165,916
Nova Scotia $224,551 $202,794 $205,047
Newfoundland $243,824 $240,860 $255,091
Source: CREA - Most Recent Month Reported
Average House Prices by City Jan 2018 Jan 2017 Jan 2016
Yellowknife $372,550 $341,890 $343,856
Vancouver $1,056,500 $878,242 $1,083,177
Victoria $633,400 $589,082 $524,361
Edmonton $359,134 $355,841 $339,714
Calgary $426,500 $451,242 $439,552
Saskatoon $293,300 $335,121 $344,639
Regina $279,400 $297,532 $309,154
Toronto $743,200 $770,745 $631,092
Hamilton-Burlington $531,610 $516,128 $451,130
Ottawa-Carleton $370,100 $379,369 $356,696
Quebec City $263,531 $259,509 $245,777
Montreal $330,500 $351,255 $337,894
Fredericton $175,873 $174,058 $165,633
Saint John $183,373 $164,126 $162,181
Halifax-Dartmouth $291,070 $265,237 $262,027
Winnipeg $280,439 $272,553 $273,154
Source: CREA - Most Recent Month Reported