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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
CAAMP Stats for May 2010
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Canadian housing starts cooling off in March
TAVIA GRANT
Globe and Mail Published on Tuesday, Apr. 13, 2010
Canadian housing starts cooled for the first time this year in March as condominium construction eased.
Housing starts fell 1.5 per cent last month to 197,300 units on a seasonally adjusted annual basis as builders broke ground on fewer multiple-unit dwellings, Canada Mortgage and Housing Corp. said yesterday.
National starts have been generally rising in recent months as Canada’s real estate market steams ahead. While last month’s reading was little changed, several factors suggest the market remains strong: February’s revised numbers show starts climbed above the 200,000 mark for the first time since October, 2008. And single home construction hit a four-year high in March.
Multi-unit construction, meantime, tends to be volatile, with the March drop following a month-earlier increase.
The pace of housing starts – and broader real estate activity – will likely ease in the second half of this year as mortgage rates rise and new tax regimes and regulations dampen the market, economists said.
“It’s a bit hard to believe starts will hold at this level,” said Pascal Gauthier, economist at Toronto-Dominion Bank.
Canada requires a pace of housing starts of about 175,000 to 185,000 to keep up with demographic demand, economists estimate.
In March, urban multiple starts fell 15.2 per cent while single-family starts grew 6.9 per cent.
The findings echo a report last week, showing building permits eased due to a lull in multiple-unit activity. Building permits fell for the second month in a row in February, sliding 0.5 per cent in the month.
Single starts are now running at a four-year high. “Activity in this sector is now up 126 per cent from the recession low and … has seen 11 consecutive monthly gains since bottoming in April last year,” Bank of Montreal economist Robert Kavcic said.
Starts fell 16.3 per cent in British Columbia, 15.5 per cent in Ontario, and 8 per cent in Atlantic Canada. They rose 13.5 per cent in Quebec and 7.3 per cent in the Prairies.
Rural starts were estimated at 22,100 units in March.
Levels in January and February were revised upward. In January, they rose 7.5 per cent to 189,000, and in February, the new reading shows they rose 6 per cent to 200,400 units.