Mihir's Market Matters Report (Jan 2013)

January 2013 Happy New Year and Welcome to the January issue of Mihir's Market Matters Report.  The New Year has started in continuation of the trend of 2012 historic low interest rates. Have a look at a quick snapshot of the Best Rates as of 7th January 2013.                             5 years fixed @ 2.89% 3 & 5 years Variable @ Prime - 0.35%  3 years fixed @ 2.69% Feel free to call or email me to discuss about your mortgage, refinancing, debt consolidation or investment needs. Mihir Oza 647-710-7374 Mortgage Agent (License # M11000672) The Mortgage Practice   My Motto: Right Advice. First Time, Every Time. Bank of Canada Interest Rate October 23, 2012 1.00 % December 4, 2012 1.00 % January 23, 2013 Next meeting date Source: Bank of Canada Bank Prime Lending Rate October 24, 2012 3.00 % December 5, 2012 3.00 % January 24, 2013 Next meeting date Source: Bank of Canada Conventional Mortgage - 5 Year Rate* September 26, 2012 5.24 % October 17, 2012 5.24 % November 21, 2012 5.24 % Source: Bank of Canada *Determinant for high ratio mortgage variable qualifying rate US Federal Reserve Board Discount Rate* October 24, 2012 0.00 % - 0.25 % December 11, 2012 0.00 % - 0.25 % January 30, 2013 Next meeting date Source: US Federal Reserve *US Federal Reserve has indicated it will now keep this rate until unemployment reaches 6.5% Exchange Rate $CDN($US) November 28, 2012 1.0082 December 19, 2012 1.0120 December 31, 2012 1.0051 Source: Bank of Canada Government of Canada Bonds Bond Type November 21, 2012 December 5, 2012 December 19, 2012 1 year Treasury Bill 1.07% 1.05% 1.10% 3 year Benchmark Bond Yield 1.19% 1.11% 1.22% 5 year Benchmark Bond Yield 1.34% 1.26% 1.40% 10 year Benchmark Bond Yield 1.76% 1.68% 1.84% Source: Bank of Canada Total New Housing Starts (Seasonally adjusted and annualized) Province September 2012 September 2011 October 2012 October 2011 November 2012 November 2011 Newfoundland/Labrador 3,800 3,500 3,500 3,500 3,600 3,900 PEI 1,400 1,300 800 900 700 1,500 Nova Scotia 6,100 6,100 8,300 3,300 2,600 2,800 New Brunswick 6,400 5,000 2,800 3,900 2,800 3,500 Quebec 49,500 57,800 41,400 44,500 47,000  47,200 Ontario 71,600 65,600 67,100 73,500 57,900 54,000 Manitoba 8,500 4,500 6,600 7,600 6,500 7,500 Saskatchewan 13,300 9,100 10,500 8,400 11,700 7,200 Alberta 33,300 24,900 33,300 31,600 38,900 29,900 British Columbia 29,500 29,800 29,100 30,400 24,500 28,200 CANADA 223,400 207,600 203,500 207,600 196,100 185,700 Source: CMHC Housing Now - December 2011 and December 2012. This seasonally adjusted data goes through stages of revision at different times of the year. Average MLS® Resale Price for Local Markets  City November 2011 November 2012 Halifax $ 262,714 $ 266,740 Saint John $ 159,101 $ 168,623 Quebec $ 250,918 $ 260,783 Montreal $ 323,011 $ 333,324 Ottawa $ 347,675 $ 350,211 Toronto $ 480,421 $ 485,328 Hamilton/Burlington $ 342,005 $ 369,201 Winnipeg $ 236,127 $ 263,786 Saskatoon $ 307,023 $ 330,125 Regina $ 273,243 $ 309,219 Calgary $ 398,722 $ 413,921 Edmonton $ 319,559 $ 331,526 Vancouver $ 728,118 $ 682,215 Victoria $ 499,676 $ 491,326 Source: Canadian Real Estate Association Source: TD Economics December 2012 Source: TD Economics December 2012