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CAAMP Stats – October issue

jwoodward — Thu, 07 Oct 2010 15:07:57 +0000

Below are the statistical tables from the October 2010 Issue of CAAMP Stats.

To find out more about the Canadian Association of Accredited Mortgage Professionals (CAAMP), please visit their website at www.caamp.org

Bank of Canada Interest Rate

July 20, 2010	0.75 %
September 8, 2010	1.00 %
October 19, 2010	Next meeting date

Source: Bank of Canada

Bank Prime Lending Rate

July 21, 2010	2.75 %
September 9, 2010	3.00 %
October 20, 2010	Next meeting date

Source: Bank of Canada

Conventional Mortgage – 5 Year Rate*

August 23, 2010	5.49 %
August 30, 2010	5.39 %
September 15, 2010	5.39 %

Source: Bank of Canada
*Determinant for high ratio mortgage variable qualifying rate

US Federal Reserve Board Discount Rate

August 10, 2010	0.00 % – 0.25 %
September 21, 2010	0.00 % – 0.25 %
November 3, 2010	Next Meeting date

Source: US Federal Reserve

Exchange Rate $CDN($US)

September 1, 2010	0.9506
September 17, 2010	0.9696
October 4, 2010	0.9785

Source: Bank of Canada

Government of Canada Bonds

Bond Type	August 25, 2010	September 15, 2010	September 29, 2010
1 year Treasury Bill	0.98%	1.30%	1.27%
3 year Benchmark Bond Yield	1.53%	1.72%	1.58%
5 year Benchmark Bond Yield	2.08%	2.25%	2.01%
10 year Benchmark Bond Yield	2.83%	2.90%	2.74%

Source: Bank of Canada

Total New Housing Starts (Seasonally adjusted and annualized)

Province	June 2010	June 2009	July 2010	July 2009	August 2010	August 2009
Newfoundland/Labrador	4,500	2,900	3,300	2,900	1,800	2,400
PEI	1,000	1,000	800	600	800	1,000
Nova Scotia	3,200	2,700	5,800	3,300	2,200	4,200
New Brunswick	4,700	3,300	6,100	3,800	4,000	3,700
Quebec	54,500	37,900	52,900	46,200	38,200	47,300
Ontario	56,100	45,800	53,200	39,100	59,400	44,200
Manitoba	8,100	5,000	9,700	4,000	4,000	5,000
Saskatchewan	6,200	5,100	5,300	3,600	6,100	5,100
Alberta	27,000	20,000	29,200	17,600	20,900	18,400
British Columbia	27,000	14,100	22,800	13,100	25,400	19,200
CANADA	192,300	137,800	189,100	134,200	162,800	150,500

Source: CMHC Housing Now – September 2010 and September 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	August 2009	August 2010
Halifax	$231,203	$254,298
Saint John	$166,117	$173,918
Quebec	$220,760	$239,688
Montreal	$279,897	$303,707
Ottawa	$315,176	$322,281
Toronto	$387,899	$410,995
Hamilton/Burlington	$291,374	$299,812
Winnipeg	$207,389	$222,597
Saskatoon	$281,871	$305,866
Calgary	$388,725	$385,712
Edmonton	$318,321	$326,550
Vancouver	$608,032	$680,782
Victoria	$481,279	$471,929

Source: Canadian Real Estate Association

Housing Affordability Index

Standard two-storey

	Average Price		Qualifying Income ($)	RBC Housing Affordability Measure
Region	Q2 2010 ($)	Y/Y % ch.	Q2 2010	Q2 2010 (%)	Q/Q Ppt. ch.	Y/Y Ppt. ch.	Avg. since ’85 (%)
Canada*	374,200	10.1	86,600	48.9	2.1	4.3	43.3
British Columbia	625,400	12.0	130,100	71.2	2.5	8.3	54.0
Alberta	373,900	4.9	85,100	37.5	0.7	1.5	38.6
Saskatchewan	319,900	8.4	77,500	43.0	0.6	2.2	38.0
Manitoba	276,000	10.7	68,500	39.3	2.2	3.1	37.7
Ontario	393,000	9.8	93,500	47.4	2.6	4.0	43.7
Quebec	263,100	12.3	64,000	43.7	1.6	4.5	38.8
Atlantic	224,000	6.5	58,000	37.8	1.5	2.1	38.1
Toronto	564,600	10.7	126,600	60.0	3.1	5.9	53.4
Montreal	331,400	9.5	77,900	53.3	1.9	4.9	41.6
Vancouver	768,700	14.3	156,700	82.6	2.9	11.2	62.4
Ottawa	358,600	12.7	90,600	43.0	3.5	4.3	39.0
Calgary	422,100	5.5	91,600	40.2	-0.1	1.8	40.3
Edmonton	373,600	8.1	86,400	39.0	1.2	2.3	37.0

Detached bungalow

	Average Price		Qualifying Income ($)	RBC Housing Affordability Measure
Region	Q2 2010 ($)	Y/Y % ch.	Q2 2010	Q2 2010 (%)	Q/Q Ppt. ch.	Y/Y Ppt. ch.	Avg. since ’85 (%)
Canada*	330,000	10.8	76,000	42.9	1.9	4.0	39.0
British Columbia	561,600	15.4	116,700	63.8	1.7	8.8	48.8
Alberta	347,900	5.2	77,900	34.3	1.4	1.4	36.1
Saskatchewan	313,100	6.4	73,600	40.8	1.5	1.6	36.6
Manitoba	249,500	10.0	62,800	36.0	0.8	2.7	36.8
Ontario	342,200	10.3	81,200	41.2	2.3	3.6	40.1
Quebec	221,100	11.6	53,500	36.5	1.3	3.7	32.9
Atlantic	196,000	4.5	49,700	32.4	1.1	1.4	31.6
Toronto	472,800	10.9	105,900	50.2	2.4	5.0	48.2
Montreal	267,200	11.0	63,200	43.2	1.8	4.3	36.8
Vancouver	688,600	18.0	140,500	74.0	1.7	11.7	57.2
Ottawa	354,100	11.7	86,800	41.2	3.6	4.0	36.6
Calgary	420,000	4.6	89,200	39.2	0.9	1.6	39.9
Edmonton	335,700	9.6	77,000	34.7	2.5	2.4	33.9

Source: RBC Quarterly Housing Affordability Study

CAAMP Stats September 2010 Below is the September 2010 Issue of CAAMP Stats. To...
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Canada’s International Transactions in Securities – July 2010

jwoodward — Mon, 20 Sep 2010 15:17:01 +0000

Statistics Canada has just released some excerpts from the July 2010 issue of Canada’s International Transactions in Securities (67-002-X), which will soon be made available.

Highlights

Non-residents added $5.5 billion of Canadian securities to their portfolios in July, on par with the amount acquired in June. Canadian bonds again accounted for the majority of foreign inflows. Meanwhile, Canadians sold $3.0 billion of foreign securities in July, mainly US federal government bonds.

Foreign investment in Canadian bonds slowed but remained robust at $5.2 billion in July. Foreign inflows were mainly the result of secondary market activity in Canadian dollar-denominated bonds. In July, the Canadian dollar rose 3.3 cents US, the second largest monthly appreciation since July 2009.

Non-residents added $3.9 billion of outstanding federal government bonds to their portfolios, with a concentration on shorter term-to-maturity instruments. In July, Canadian long-term interest rates exceeded those in the US by the widest differential since January 2009. Canadian private corporate bonds also attracted $1.7 billion of foreign inflows on secondary markets, driven by mortgage-backed securities.

In addition, non-residents purchased $966 million of Canadian money market instruments in July. Foreign investors placed $1.6 billion of funds in federal government Treasury bills, following a divestment of $2.2 billion in June. In July, the Bank of Canada raised its target overnight rate by another 25 basis points, the second rate increase since June. Meanwhile, non-residents continued to divest themselves of provincial paper for a seventh straight month.

Notes

All values in this release are net transactions unless otherwise stated.

The data series on international security transactions cover portfolio transactions in stocks, bonds and money market instruments for both Canadian and foreign issues.

Stocks include common and preferred equities, as well as warrants.

Debt securities include bonds and money market instruments.

Bonds have an original term to maturity of more than one year.

Money market instruments have an original term to maturity of one year or less.

Government of Canada paper includes treasury bills and US-dollar Canada bills.

Read More:
http://www.statcan.gc.ca/

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CAAMP Stats September 2010

jwoodward — Fri, 03 Sep 2010 23:03:22 +0000

Below is the September 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

Top of Page

Bank Prime Lending Rate

June 2, 2010	2.50 %
July 21, 2010	2.75 %
September 9, 2010	Next meeting date

Source: Bank of Canada

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Conventional Mortgage – 5 Year Rate*

August 16, 2010	5.59 %
August 23, 2010	5.49 %
August 30, 2010	5.39 %

Source: Bank of Canada
*Determinant for high ratio mortgage variable qualifying rate

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US Federal Reserve Board Discount Rate

June 23, 2010	0.00 % – 0.25 %
August 10, 2010	0.00 % – 0.25 %
September 21, 2010	Next Meeting date

Source: US Federal Reserve

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Exchange Rate $CDN($US)

July 27 , 2010	0.9651
August 18, 2010	0.9721
September 1, 2010	0.9506

Source: Bank of Canada

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Government of Canada Bonds

Bond Type	July 28, 2010	August 11, 2010	August 25, 2010
1 year Treasury Bill	1.17%	1.07%	0.98%
3 year Benchmark Bond Yield	1.82%	1.70%	1.53%
5 year Benchmark Bond Yield	2.44%	2.13%	2.08%
10 year Benchmark Bond Yield	3.22%	2.97%	2.83%

Source: Bank of Canada

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Total New Housing Starts (Seasonable adjusted and annualized)

Province	May 2010	May 2009	June 2010	June 2009	July 2010	July 2009
Newfoundland/Labrador	4,500	2,700	4,500	2,900	3,300	2,900
PEI	1,500	800	1,000	1,000	800	600
Nova Scotia	6,000	3,000	3,200	2,700	5,800	3,300
New Brunswick	4,400	4,000	4,700	3,300	6,100	3,800
Quebec	50,100	42,200	54,500	37,900	52,900	46,200
Ontario	66,300	43,800	56,100	45,800	53,200	39,100
Manitoba	5,000	3,300	8,100	5,000	9,700	4,000
Saskatchewan	4,400	4,900	6,200	5,100	5,300	3,600
Alberta	29,700	12,400	27,000	20,000	29,200	17,600
British Columbia	26,000	11,200	27,000	14,100	22,800	13,100
CANADA	197,900	128,400	192,300	137,800	189,100	134,200

Source: CMHC Housing Now – August 2010 and August 2009. This seasonally adjusted data goes through stages of revision at different times of the the year.

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Average MLS® Resale Price for Local Markets

City	July 2009	July 2010
Halifax	$243,524	$245,944
Saint John	$156,010	$176,061
Quebec	$217,193	$237,820
Montreal	$282,832	$302,856
Ottawa	$300,635	$322,342
Toronto	$345,414	$420,455
Hamilton/Burlington	$296,591	$309,293
Winnipeg	$206,135	$225,191
Saskatoon	$283,619	$289,715
Calgary	$381,740	$402,809
Edmonton	$324,744	$329,731
Vancouver	$584,105	$657,815
Victoria	$475,490	$496,943

Source: Canadian Real Estate Association

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Canada and US House Prices

Source: CD Howe Institute August 2010
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CAAMP Stats for August 2010 Below is the August 2010 Issue of CAAMP Stats. To...
June Issue of CAAMP Stats Below is the June Issue of the CAAMP Stats. To...
CAAMP Stats for May 2010 Below is the May issue of the CAAMP Stats. To...

CAAMP Stats for August 2010

jwoodward — Mon, 09 Aug 2010 15:44:22 +0000

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

Top

Bank Prime Lending Rate

June 2, 2010	2.50 %
July 21, 2010	2.75 %
September 9, 2010	Next meeting date

Source: Bank of Canada

Top

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

Top

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

Top

Exchange Rate $CDN($US)

June 28, 2010	0.9654
July 13, 2010	0.9731
July 27, 2010	0.9651

Source: Bank of Canada

Top

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

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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.

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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

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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

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June Issue of CAAMP Stats Below is the June Issue of the CAAMP Stats. To...
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June Issue of CAAMP Stats

jwoodward — Wed, 02 Jun 2010 16:45:14 +0000

Below is the June Issue of the CAAMP Stats.

To find out more about CAAMP, please visit www.caamp.org

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

Source: US Federal Reserve

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

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How much credence should we give to credit rating agencies?

jwoodward — Mon, 04 Jan 2010 20:19:37 +0000

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

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