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CAAMP Stats for August 2010
Below is the August 2010 Issue of CAAMP Stats.
To find out more about CAAMP, please visit www.caamp.org
Bank of Canada Interest Rate
| June 1, 2010 | 0.50 % |
| July 20, 2010 | 0.75 % |
| September 8, 2010 | Next meeting date |
Source: Bank of Canada
Bank Prime Lending Rate
| June 2, 2010 | 2.50 % |
| July 21, 2010 | 2.75 % |
| September 9, 2010 | Next meeting date |
Source: Bank of Canada
Conventional Mortgage – 5 Year Rate*
| June 16, 2010 | 5.99 % |
| July 5, 2010 | 5.89 % |
| July 14, 2010 | 5.79 % |
Source: Bank of Canada
*Determinant for high ratio mortgage variable qualifying rate
US Federal Reserve Board Discount Rate
| April 28, 2010 | 0.00 % – 0.25 % |
| June 23, 2010 | 0.00 % – 0.25 % |
| August 10, 2010 | Next Meeting date |
Source: US Federal Reserve
Exchange Rate $CDN($US)
| June 28, 2010 | 0.9654 |
| July 13, 2010 | 0.9731 |
| July 27, 2010 | 0.9651 |
Source: Bank of Canada
Government of Canada Bonds
| Bond Type | June 23, 2010 | July 14, 2010 | July 28, 2010 |
| 1 year Treasury Bill | 1.17% | 1.18% | 1.17% |
| 3 year Benchmark Bond Yield |
1.99% | 1.93% | 1.82% |
| 5 year Benchmark Bond Yield |
2.53% | 2.54% | 2.44% |
| 10 year Benchmark Bond Yield |
3.23% | 3.26% | 3.22% |
Source: Bank of Canada
Total New Housing Starts (Seasonally adjusted and annualized)
| Province | April 2010 |
April 2009 |
May 2010 |
May 2009 |
June 2010 |
June 2009 |
| Newfoundland/Labrador | 5,400 | 2,800 | 4,500 | 2,700 | 4,600 | 2,900 |
| PEI | 1,100 | 500 | 1,500 | 800 | 1,100 | 1,000 |
| Nova Scotia | 4,000 | 2,500 | 6,100 | 3,000 | 3,200 | 2,700 |
| New Brunswick | 6,200 | 4,200 | 4,500 | 4,000 | 4,700 | 3,300 |
| Quebec | 52,900 | 41,100 | 50,700 | 42,200 | 54,200 | 37,900 |
| Ontario | 65,400 | 36,300 | 66,700 | 43,800 | 56,200 | 45,800 |
| Manitoba | 7,400 | 3,100 | 5,000 | 3,300 | 8,200 | 5,000 |
| Saskatchewan | 5,700 | 2,900 | 4,400 | 4,900 | 6,300 | 5,100 |
| Alberta | 29,700 | 12,400 | 29,700 | 12,400 | 27,200 | 20,000 |
| British Columbia | 28,500 | 11,700 | 25,800 | 11,200 | 27,100 | 14,100 |
| CANADA | 206,300 | 117,600 | 198,900 | 128,400 | 192,800 | 137,800 |
Source: CMHC Housing Now – July 2010 and July 2009. This seasonally adjusted data goes through stages of revision at different times of the the year.
Average MLS® Resale Price for Local Markets
| City | June 2009 | June 2010 |
| Halifax | $240,093 | $262,992 |
| Saint John | $172,731 | $175,123 |
| Quebec | $218,104 | $237,530 |
| Montreal | $276,291 | $307,403 |
| Ottawa | $307,793 | $328,238 |
| Toronto | $403,918 | $435,064 |
| Hamilton/Burlington | $297,117 | $314,189 |
| Winnipeg | $212,592 | $233,567 |
| Saskatoon | $276,867 | $295,963 |
| Calgary | $392,601 | $415,431 |
| Edmonton | $328,285 | $335,271 |
| Vancouver | $575,949 | $657,934 |
| Victoria | $476,686 | $511,498 |
Source: Canadian Real Estate Association
Quarterly Housing Price Index
Detached Bungalows
| Market | Q2 2010 Average | Last Quarter Average | Q2 2009 Average | Bungalow % Change |
| Halifax | 250,333 | 246,833 | 235,333 | 6.4% |
| Charlottetown | 162,000 | 162,000 | 160,000 | 1.3% |
| Moncton | 150,760 | 158,200 | 158,000 | -4.6% |
| Fredericton | 182,000 | 182,000 | 172,000 | 5.8% |
| Saint John | 195,000 | 228,000 | 201,476 | -3.2% |
| St. John’s | 238,333 | 228,025 | 200,000 | 19.2% |
| Montreal | 255,906 | 248,613 | 235,523 | 8.7% |
| Ottawa | 352,917 | 326,667 | 325,417 | 8.5% |
| Toronto | 481,933 | 477,867 | 432,433 | 11.4% |
| Winnipeg | 261,625 | 259,313 | 237,750 | 10.0% |
| Regina | 282,000 | 278,125 | 272,900 | 3.3% |
| Saskatoon | 331,250 | 328,250 | 312,250 | 6.1% |
| Calgary | 419,978 | 419,433 | 401,600 | 4.6% |
| Edmonton | 320,857 | 302,857 | 302,143 | 6.2% |
| Vancouver | 905,000 | 906,045 | 760,000 | 19.1% |
| Victoria | 520,000 | 511,400 | 466,000 | 11.6% |
| National | 331,868 | 328,977 | 304,552 | 9.0% |
Standard Two-Storey
| Market | Q2 2010 Average | Last Quarter Average | Q2 2009 Average | 2 Storey % Change |
| Halifax | 287,167 | 278,267 | 277,333 | 3.5% |
| Charlottetown | 196,000 | 196,000 | 190,000 | 3.2% |
| Moncton | 139,300 | 137,250 | 134,200 | 3.8% |
| Fredericton | 205,000 | 205,000 | 210,000 | -2.4% |
| Saint John | 270,000 | 299,000 | 268,000 | 0.7% |
| St. John’s | 330,000 | 313,775 | 276,000 | 19.6% |
| Montreal | 357,833 | 350,667 | 332,917 | 7.5% |
| Ottawa | 353,083 | 346,833 | 325,417 | 8.5% |
| Toronto | 589,857 | 577,810 | 533,748 | 10.5% |
| Winnipeg | 293,875 | 277,357 | 265,050 | 10.9% |
| Regina | 259,500 | 267,000 | 245,000 | 5.9% |
| Saskatoon | 355,500 | 366,250 | 337,250 | 5.4% |
| Calgary | 422,078 | 432,178 | 400,167 | 5.5% |
| Edmonton | 347,914 | 343,571 | 328,571 | 5.9% |
| Vancouver | 995,250 | 987,500 | 846,000 | 17.6% |
| Victoria | 483,000 | 475,000 | 446,000 | 8.3% |
| National | 367,835 | 365,842 | 338,478 | 8.7% |
Source: RBC Quarterly Housing Affordability Study
June Issue of CAAMP Stats
 |
|
Bank of Canada Interest Rate
| April 20, 2010 | 0.25 % |
| June 1, 2010 | 0.50 % |
| July 20, 2010 | Next meeting date |
Source: Bank of Canada
Bank Prime Lending Rate
| April 21, 2010 | 2.25 % |
| June 2, 2010 | 2.50 % |
| July 21, 2010 | Next meeting date |
Source: Bank of Canada
Conventional Mortgage – 5 Year Rate*
| April 28, 2010 | 6.25 % |
| May 12, 2010 | 6.10 % |
| May 26, 2010 | 5.99 % |
Source: Bank of Canada
*Determinant for high ratio mortgage variable qualifying rate
US Federal Reserve Board Discount Rate
| March 16, 2010 | 0.00 % – 0.25 % |
| April 28, 2010 | 0.00 % – 0.25 % |
| June 23, 2010 | Next Meeting date |
Exchange Rate $CDN($US)
| April 29, 2010 | 0.9946 |
| May 14, 2010 | 0.9693 |
| May 31, 2010 | 0.9583 |
Source: Bank of Canada
Government of Canada Bonds
| Bond Type | April 28, 2010 | May 12, 2010 | May 26, 2010 |
| 1 year Treasury Bill | 1.29% | 1.26% | 1.02% |
| 3 year Benchmark
Bond Yield |
2.49% | 2.38% | 2.00% |
| 5 year Benchmark
Bond Yield |
3.09% | 2.96% | 2.55% |
| 10 year Benchmark
Bond Yield |
3.66% | 3.59% | 3.25% |
Source: Bank of Canada
Total New Housing Starts (Seasonally adjusted and annualized)
| Province | February
2010 |
February
2009 |
March
2010 |
March
2009 |
April
2010 |
April
2009 |
| Newfoundland/Labrador | 5,300 | 3,200 | 6,000 | 3,300 | 3,100 | 2,800 |
| PEI | 300 | 500 | 300 | 400 | 400 | 500 |
| Nova Scotia | 6,300 | 4,700 | 3,900 | 3,800 | 3,600 | 2,500 |
| New Brunswick | 2,400 | 3,200 | 3,700 | 3,400 | 3,600 | 4,200 |
| Quebec | 47,300 | 36,900 | 55,300 | 43,600 | 53,700 | 41,100 |
| Ontario | 73,300 | 47,100 | 63,200 | 62,600 | 64,700 | 36,300 |
| Manitoba | 5,400 | 3,700 | 3,800 | 3,500 | 3,400 | 3,100 |
| Saskatchewan | 5,000 | 2,300 | 4,000 | 2,100 | 4,200 | 2,900 |
| Alberta | 28,300 | 12,600 | 34,100 | 11,900 | 35,700 | 12,400 |
| British Columbia | 30,200 | 14,200 | 24,900 | 11,900 | 28,300 | 11,700 |
| CANADA | 203,800 | 128,400 | 199,200 | 146,500 | 200,700 | 117,600 |
Source: CMHC Housing Now – May 2010 and May 2009. This seasonally adjusted data goes through stages of revision at different times of the the year.
Average MLS Resale Price for Local Markets
| City | April 2009 | April 2010 |
| Halifax | $245,412 | $247,168 |
| Saint John | $166,172 | $166,836 |
| Quebec | $206,739 | $232,188 |
| Montreal | $267,236 | $293,393 |
| Ottawa | $298,593 | $333,854 |
| Toronto | $385,641 | $437,566 |
| Hamilton/Burlington | $286,191 | $317,909 |
| Winnipeg | $212,541 | $236,574 |
| Saskatoon | $276,455 | $299,214 |
| Calgary | $371,995 | $395,847 |
| Edmonton | $312,127 | $339,172 |
| Vancouver | $565,003 | $673,579 |
| Victoria | $455,143 | $518,536 |
Source: Canadian Real Estate Association
Housing Affordability Index
How much credence should we give to credit rating agencies?
Roger S. Conrad, leading adviser on essential services stocks, bonds and preferred stocks answers the question on how much credence should we give credit rating agencies like Standard & Poor’s, Moody’s and Fitch after the recent financial crisis? After all, these are the very same credit raters that “misjudged the risk to the financial system before the crash. Their biggest mistake, obviously, was underestimating the risks from mortgage-backed securities, for which at one time they were handing out AAA ratings on like candy’.
He goes on providing more examples, “Worse, this is hardly the first time they’ve completely missed the boat on a major industry meltdown. Back in 2001, for example, S&P rated Enron investment-grade the day that company filed for Chapter 11 bankruptcy. WorldCom also held high ratings right up until it wiped out its stockholders”.
According to Conrad, “the worst time to look at credit rater research is when an industry has been strong for a long time.”
And the best?
Read the whole article at the link below:
www.kciinvesting.com