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Monday, January 25, 2010

CAAMP Stats


December 2009
Welcome to the December issue of CAAMP Stats. CAAMP recently released its fall annual report on the state of the residential mortgage market in Canada. For a copy of the report - click here
For further information visit
www.caamp.org

Bank of Canada Interest Rate

September 10, 2009 0.25%
October 20, 2009 0.25%*
December 8, 2009 Next meeting date

Source: Bank of Canada
*Bank of Canada statement included reference to hold rate to end of second quarter 2010

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Bank Prime Lending Rate

September 11, 2009 2.25%
October 21, 2009 2.25%
December 9, 2009 Next meeting date

Source: Bank of Canada

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US Federal Reserve Board Discount Rate

September 22, 2009 0.00% – 0.25%
November 4, 2009 0.00% – 0.25%
December 15, 2009 Next meeting date

Source: US Federal Reserve

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Exchange Rate $CDN($US)

October 30, 2009 .9243
November 13, 2009 .9519
November 27, 2009 .9421

Source: Bank of Canada

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Government of Canada Bonds

Bond Type October 28,
2009
November 12, 2009 November 25, 2009
1 year Treasury Bill 0.60% 0.54% 0.48%
3 year Benchmark
Bond Yield
1.90% 1.87% 1.62%
5 year Benchmark
Bond Yield
2.70% 2.70% 2.41%
10 year Benchmark
Bond Yield
3.45% 3.51% 3.25%

Source: Bank of Canada

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Total New Housing Starts (Seasonable adjusted and annualized)

Province

August
2009

August
2008

September
2009

September
2008

October
 2009

October 2008

Newfoundland/Labrador

2,400

3,100

2,800

3,200

2,900

3,100

PEI 

1,000

700

700

500

1,200

 600

Nova Scotia

4,200

3,300

4,500

4,400

4,000

4,300

New Brunswick

3,700

3,800

2,900

4,500

3,600

5,000

Quebec

47,300

43,300

41,300

70,100

37,200

48,400

Ontario

44,200

89,800

50,200

84,200

57,600

82,600

Manitoba

5,000

5,400

4,400

5,600

4,200

5,800

Saskatchewan

5,100

5,300

3,700

6,400

3,600

4,900

Alberta

18,400

22,900

22,600

57,300

25,000

24,700

British Columbia

19,200

33,500

16,200

43,900

18,200

32,300

Canada

150,500

211,100

149,300

281,300

157,400

211,800

Source: CMHC Housing Now – November 2009 and November 2008.
This seasonally adjusted data goes through stages of revision at different times of the year.

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Average MLS resale price for local markets

City October 2008 October 2009
Halifax $224,607 $235,465
Saint John, NB $151,709 $178,632
Quebec $198,357 $219,719
Montreal $257,242 $284,024
Ottawa $280,870 $320,561
Toronto $353,018 $403,507
Hamilton/Burlington $254,004 $296,253
Winnipeg $190,374 $210,618
Saskatoon $285,310 $274,759
Calgary $388,565 $399,679
Edmonton $317,744 $318,969
Vancouver $556,682 $638,948
Victoria $469,243 $481,500

Source: Canadian Real Estate Association

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Housing Affordability Index


Standard Two-Storey

Average Price

Qualifying Income($)

Affordability Measure

Region

Q3 2009
($)

Y/Y
% ch.
Q3 2009

Q3 2009
(%)

Q/Q
Ppt. ch.

Y/Y
Ppt. ch.

Avg. since '85
(%)
Canada 344,100 -0.3 79,100 45.8 1.2 -5.8 43.3
British Columbia 557,400 -1.2 113,600 67.6 2.9 -8.5 53.7
Alberta 368,200 -4.9 82,200 37.9 1.3 -7.5 38.5
Saskatchewan 305,500 -0.8 73,200 44.0 1.0 -4.6 37.6
Manitoba 244,900 3.5 61,300 37.5 0.3 -3.4 37.5
Ontario 362,100 -0.3 85,300 45.2 1.0 -5.8 44.0
Quebec 240,100 2.8 59,000 40.4 1.2 -3.7 39.0
Atlantic 210,000 1.3 55,000 35.9 0.4 -4.7 38.7
Toronto 522,600 0.2 115,300 57.8 1.9 -7.5 53.7
Montreal 305,800 0.7 71,300 47.4 0.8 -5.5 41.3
Vancouver 678,900 -1.9 135,500 74.2 4.3 -10.2 61.7
Ottawa 320,800 1.0 81,000 40.5 0.4 -4.4 39.5
Calgary 414,600 -4.7 88,100 38.5 2.0 -8.1 40.0
Edmonton 365,300 -2.6 83,100 38.9 0.9 -6.7 36.8

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Standard Condominium

Average Price

Qualifying Income($)

Affordability Measure

Region

Q3 2009
($)

Y/Y
% ch.
Q3 2009

Q3 2009
(%)

Q/Q
Ppt. ch.

Y/Y
Ppt. ch.

Avg. since '85
(%)
Canada 205,700 -1.0 47,600 27.6 0.5 -3.6 26.9
British Columbia 275,600 -0.3 57,100 34.0 1.2 -3.9 28.0
Alberta 219,300 -7.9 48,700 22.4 0.5 -5.2 22.1
Saskatchewan 186,200 -8.7 44,600 26.8 0.8 -4.7 24.1
Manitoba 130,100 4.8 33,400 20.5 0.3 -1.6 20.9
Ontario 217,200 -0.9 51,800 27.4 0.5 -3.6 27.9
Quebec 170,300 1.2 40,700 27.8 0.1 -3.0 27.0
Atlantic 149,800 4.8 37,700 24.6 0.3 -2.5 24.7
Toronto 292,700 -1.5 65,400 32.8 1.0 -4.7 31.2
Montreal 204,500 3.9 47,100 31.3 0.9 -2.8 29.0
Vancouver 351,500 0.4 70,600 38.7 1.7 -4.4 31.4
Ottawa 209,000 1.3 51,600 25.8 0.3 -2.8 23.6
Calgary 249,500 -7.3 52,700 23.0 0.3 -5.5 22.8
Edmonton 206,000 -6.8 46,800 21.9 0.5 -4.7 18.1

Source: RBC Financial Group Housing Affordability Index, November 2009. Index based on a 25% down payment and a 25 year mortgage loan at a five year fixed rate. The higher the index, the more difficult it is to afford a home. An affordability index of 50 means that homeownership costs including mortgage payments, utilities and property taxes take up half of a typical household's monthly pre-tax income.