Mortgage Rates & House Prices in Canada

Mortgage Rates & House Prices In Canada Canada's housing market is showing signs of a soft landing amid evidence of robust demand and buoyant new construction plans MONTHLY SALES IN THOUSANDS Home prices in Toronto, Canada's most-populous city, rose 5.4% in May from a year ago, the biggest increase in 10 five months MA MT,'A'SOND M'A'M 2012 2013 AVERAGE PRICE IN THOUSANDS OF DOLLARS S600 The impact of Flaherty's policy changes are beginning to fade $500 S400 $300 $200 S100 so 2012 2013 The average sale price rose to $542,174 from $514,567 a year ago Unit sales dropped 3.4% from a year earlier to 10,182 Mortgage Rates in Canada HOW LOW CAN THEY GO? After peaking at 21.75% in 1981, mortgage rates have fallen to historic lows < 3% .20 The 10-year mortgage, still not popular with Canadians, is down to 3.64% Five-year fixed closed mortgage rates below 3%, even at some of the big banks. 88 73 78 83 93 98 03 08 Source Bark of Canada