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| June 2013
Welcome to the June issue of Mihir's Market Matters Report. Are we looking at some nice stable temperatures anytime soon. Well, not sure on that. What I can however say is that Mortgage rates continue to be showing the lower trend. There has been some movement with few lenders who have now increased their rates. However, there are still many lenders who are offering quite competitive interest rates at the current time. In regards to the Mortgage Rates, I am able to offer the best rates in the Industry backed with exceptional customer service. See below for the Best Mortgage Rates which no other Brokerage can give you. BEST RATES AS OF 10th JUNE 2013 QUICK CLOSE SPECIAL - 2.59% FIXED FOR 5 YEARS 2.89% FIXED FOR 5 YEARS Thanks 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 | April 17, 2013 | 1.00 %
| | May 29, 2013 | 1.00 %
| | July 17, 2013 | Next meeting date
| Source: Bank of Canada
Bank Prime Lending Rate | April 18, 2013 | 3.00 % | | May 30, 2013 | 3.00 %
| | July 18, 2013 | Next meeting date
| Source: Bank of Canada
Conventional Mortgage - 5 Year Rate* | April 24, 2013 | 5.14 %
| | May 8, 2013 | 5.14 %
| | May 22, 2013 | 5.14 %
| Source: Bank of Canada
*Determinant for high ratio mortgage variable qualifying rate
US Federal Reserve Board Discount Rate* | March 20, 2013 | 0.00 % - 0.25 % | | May 1, 2013 | 0.00 % - 0.25 % | | June 19, 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) | May 1, 2013 | 0.9920 | | May 15, 2013 | 0.9831 | | May 29, 2013 | 0.9660 | Source: Bank of Canada
Government of Canada Bonds | Bond Type | April 24, 2013 | May 8, 2013 | May 22, 2013 | 1 year Treasury Bill
| 1.02% | 1.04% | 1.06% | 3 year Benchmark
Bond Yield | 1.03% | 1.08% | 1.15% | 5 year Benchmark
Bond Yield | 1.19% | 1.27% | 1.38% | 10 year Benchmark
Bond Yield | 1.72% | 1.81% | 1.92% | Source: Bank of Canada
Total New Housing Starts (Seasonally adjusted and annualized) | Province | February
2013 | February
2012 | March
2013 | March
2012 | April
2013 | April
2012 | | Newfoundland/Labrador | 2,500 | 2,600 | 2,800 | 2,900 | 2,800 | 4,100 | | PEI | 400 | 500 | 300 | 400 | 400 | 1,100 | | Nova Scotia | 1,500 | 4,000 | 5,000 | 4,300 | 2,300 | 2,500 | | New Brunswick | 3,400 | 2,300 | 1,300 | 1,800 | 1,200 | 2,300 | | Quebec | 38,900 | 47,200 | 37,400 | 43,700 | 41,400 | 62,800 | | Ontario | 64,500 | 66,500 | 55,100 | 87,500 | 47,400 | 97,600 | | Manitoba | 5,700 | 4,700 | 11,000 | 7,700 | 9,000 | 4,800 | | Saskatchewan | 5,300 | 10,200 | 7,400 | 8,700 | 6,600 | 8,500 | | Alberta | 35,300 | 31,100 | 34,800 | 35,500 | 39,200 | 37,300 | | British Columbia | 23,400 | 32,000 | 26,000 | 22,700 | 24,600 | 23,800 | | CANADA | 181,000 | 201,100 | 181,100 | 215,200 | 174,900 | 244,800 | Source: CMHC Housing Now - May 2012 and May 2013. This seasonally adjusted data goes through stages of revision at different times of the year.
Average MLS® Resale Price for Local Markets | City | April 2012 | April 2013 | | Halifax
| $ 280,274 | $ 281,721 | | Saint John
| $ 168,913 | $ 174,498 | | Quebec
| $ 258,553 | $ 271,929 | | Montreal
| $ 323,938 | $ 372,188 | | Ottawa
| $ 363,938 | $ 372,188 | | Toronto
| $ 517,556 | $ 526,335 | | Hamilton/Burlington
| $ 377,951 | $ 379,308 | | Winnipeg
| $ 261,263 | $ 270,219 | | Saskatoon
| $ 330,011 | $ 345,776 | | Regina
| $ 312,873 | $ 316,606 | | Calgary
| $ 414,932 | $ 429,717 | | Edmonton
| $ 336,751 | $ 349,047 | | Vancouver
| $ 735,315 | $ 759,587 | | Victoria
| $ 493,266 | $ 519,142 | Source: Canadian Real Estate Association
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