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
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