CAAMP STATS - Mortgage Centre KW | Mortgage Brokers in Kitchener, ON

Welcome to the November issue of CAAMP Stats. For more information on CAAMP please visit www.caamp.org.

11.11.2014

Bank of Canada Interest Rate

September 3, 2014	1.00%
October 23, 2014	1.00%
December 3, 2014	Next meeting date

Source: Bank of Canada

Bank Prime Lending Rate

September 4, 2014	3.00%
October 24, 2014	3.00%
December 4, 2014	Next meeting date

Source: Bank of Canada

Conventional Mortgage – 5 Year Rate*

September 24, 2014	4.79%
October 15, 2014	4.79%
October 29, 2014	4.79%

Source: Bank of Canada

*Determinant for high ratio mortgage variable qualifying rate

US Federal Reserve Board Discount Rate

September 17, 2014	0.00%-0.25%
October 29, 2014	0.00%-0.25%
December 17, 2014	Next meeting date

Source: US Federal Reserve

Exchange Rate $CDN($US)

October 1, 2014	0.8951 $CDN ($US)
October 15, 2014	0.8883 $CDN ($US)
November 5, 2014	0.8780 $CDN ($US)

Source: Bank of Canada

Government of Canada Bonds

Bond Type	September 24, 2014	October 15, 2014	October 29, 2014
1 year Treasury Bill	1.00%	0.95%	0.98%
3 year Benchmark Bond Yield	1.17%	1.01%	1.16%
5 year Benchmark Bond Yield	1.66%	1.37%	1.56%
10 year Benchmark Bond Yield	2.20%	1.91%	2.05%

Source: Bank of Canada

Total New Housing Starts (Seasonally adjusted and annualized)

Province	July 2014	July 2013	August 2014	August 2013	September 2014	September 2013
Newfoundland/Labrador	2,300	3,100	2,400	3,100	1,900	2,700
PEI	500	700	300	400	400	70
Nova Scotia	5,500	4,200	4,000	2,300	4,200	5,200
New Brunswick	4,800	2,200	2,900	3,600	2,000	3,000
Quebec	36,000	36,200	35,400	32,700	40,500	38,400
Ontario	69,700	61,500	52,300	69,900	54,700	60,400
Manitoba	9,600	11,200	9,300	5,000	6,600	9,100
Saskatchewan	9,100	8,300	9,400	10,100	10,500	14,400
Alberta	37,500	33,600	44,200	26,900	47,100	30,800
British Columbia	28,000	31,900	36,000	26,200	29,400	31,100
CANADA	203,000	192,800	196,300	180,200	197,300	195,900

Source: CMHC Housing Now – October 2013 and October 2014.

Average MLS resale price for local markets

City	September 2013	September 2014
St. John’s	$314,334	$311,425
Halifax	$268,286	$273,026
Saint John	$173,240	$155,384
Quebec	$266,759	$263,681
Montreal	$322,330	$329,144
Ottawa	$348,788	$357,753
Toronto	$533,797	$573,676
Hamilton/Burlington	$390,638	$411,699
Winnipeg	$256,380	$263,859
Saskatoon	$338,309	$333,888
Regina	$317,273	$314,756
Calgary	$435,934	$461,099
Edmonton	$350,346	$372,673
Vancouver	$786,522	$836,735
Victoria	$486,744	$509,667

Source: Canadian Real Estate Association

Quarterly House Price Survey

Detached Bungalow

Market	Q3 2014 Average	Last Quarter Average	Q3 2013 Average	Bungalow % Change
Halifax	294,333	292,167	299,000	-1.6%
Charlottetown	173,000	175,000	173,000	0.0%
Fredericton	202,000	200,000	207,000	-2.4%
Moncton	150,911	149,648	148,000	2.0%
Saint John	155,104	179,150	167,314	-7.3%
St. John’s	313,500	305,533	296,000	5.9%
Montreal	296,857	296,250	289,306	2.6%
Ottawa	403,091	401,667	398,167	1.2%
Toronto	618,088	611,906	576,313	7.2%
Hamilton	244,409	240,416	228,901	6.8%
Winnipeg	308,706	311,015	307,069	0.5%
Regina	307,250	333,500	333,500	-7.9%
Saskatoon	368,750	375,000	366,250	0.7%
Calgary	515,844	501,200	465,411	10.8%
Edmonton	357,240	350,401	337,000	6.0%
Vancouver	1,135,009	1,107,290	1,070,000	6.1%
Victoria	468,000	467,000	458,000	2.2%
National	405,101	406,454	381,811	6.1%

Standard Two Storey

Market	Q3 2014 Average	Last Quarter Average	Q3 2013 Average	2 Storey % Change
Halifax	331,933	325,633	329,333	0.8%
Charlottetown	205,000	205,000	205,000	0.0%
Fredericton	215,000	215,000	215,000	0.0%
Moncton	155,157	152,302	145,000	7.0%
Saint John	206,524	278,145	235,556	-12.3%
St. John’s	424,167	412,233	400,333	6.0%
Montreal	403,714	404,214	403,014	0.2%
Ottawa	406,264	401,250	401,500	1.2%
Toronto	733,317	722,079	681,545	7.6%
Hamilton	324,874	301,289	294,919	10.2%
Winnipeg	341,863	336,241	346,860	-1.4%
Regina	346,450	372,500	372,250	-6.9%
Saskatoon	408,250	394,250	399,750	2.1%
Calgary	499,811	489,589	457,522	9.2%
Edmonton	379,463	372,112	360,270	5.6%
Vancouver	1,220,909	1,204,011	1,156,500	5.6%
Victoria	477,000	478,000	452,000	3.2%
National	441,714	440,972	418,686	5.5%

Source: Royal Lepage, October 2014

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About

mortgagecentrekw

Formed in 1989, The Mortgage Centre was Canada’s first national mortgage broker organization. As your local, licensed mortgage broker, The Mortgage Centre KW is fully-qualified to provide you with a range of unique benefits.

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4.9

Tristar Funding Corp. o/a The Mortgage Centre

Danielle Kitts

18:31 30 May 17

Working with the team at Tristar Funding Corp The Mortgage Center in Kitchener to secure our mortgage was quick and easy. We worked with Chelsea who was able to answer all of our questions and helped us every step of the way. She was able to secure us a great rate with excellent conditions. She provided us we lots of information and advice on our mortgage options as well as helped us better understand our first time home buyer and land transfer tax possibilities. She also took the time to work with us to show us the cost benefits of putting different down different size down payments and fixed vs variable mortgages. We would definitely recommend the mortgage center team to help you find the mortgage that is right for you! Thank you to Chelsea and her team for helping us buy our new home.

Chris Perkes

19:30 07 Nov 17

Had a great experience dealing with Rick and Katie. They kept me in the loop all the way through a fairly complex refinance and purchase of some rental properties. thanks again.

Paulette Kydd

20:21 19 Oct 17

Excellent customer service. Very knowledgeable and patient staff. Extremely satisfied customer for over 19 years!!

Jasen Frederiksen

20:35 06 Sep 17

Chelsea was super helpful when answering all my many questions and was always very quick with her email responses. I got a fantastic rate on my mortgage and it was a hassle free experience. Thanks!

Elysia Duncan

22:41 16 Aug 17

As first time homebuyers, my husband and I didn't know what to expect when it came to getting our mortgage. Rick, Chelsea and their team made the process very easy! I most definitely recommend The Mortgage Center to anyone looking for a mortgage!

Bethany Kadarian

15:29 04 Jan 18

We had a great experience here. Paul worked hard to get us our mortgage at a competitive rate. What's more impressive however, is how helpful he has been though the entire process-including follow up questions months later. He is knowledgeable and clearly experienced in his field.

Michelle T

15:59 23 Jan 18

awesome broker always makes sure we get a great rate and makes the process as easy as possible. thx

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