Tags  //  Oakville Real Estate Tags

Bank of Canada leaves Overnight Rate at 1%

OTTAWA, April 12 /CNW/ - The Bank of Canada announced this morning that it will be maintaining its target for the overnight rate at 1 per cent. The bank rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Since raising its overnight lending rate to one per cent in September, the bank has held steady for five consecutive policy decisions. The decision to keep the rate unchanged should benefit home buyers throughout the GTA and 'Oakville Real Estate' markets as mortgage rates should also remain low in the short term. The Prime Rate is currently at 3.0 per cent. You can always find the current mortgage rates, and some useful mortgage calculators, on the Mortgage Rates and Calculators page on this website. Read more...

Housing Starts Rise in March: CMHC

The latest figures released by the Canadian Mortgage and Housing Corporation (CMHC) showed that housing starts rose in March. Housing data continues to be positive, and it seems like there is some balance coming back to the market- with increases in some regions, and decreases in others, resulting in an overall upwards trend. The seasonally adjusted annual rate of housing starts registered in at 188,800 units in March- which is a rise up from 183,700 units in February 2011. The Oakville real estate market played a small role in helping increase the numbers that were led higher predominantly by Ontario and the Atlantic region. Read more...

Building permits beat expectations: Stats Can

The figures for building permits actually surpassed analysts’ expectations for February, according to the latest data from Statistics Canada. Building permits issued jumped 9.9% from January, which was well above the analysts’ predictions of between 1%- 1.4% for February. Municipalities granted building permits totalling $5.8 billion in February. Stronger than expected activity in the non-residential sector pulled up the market as a whole, offsetting declines in residential market activity. These gains were mostly centered in Alberta and Ontario. The 'Oakville Real Estate' building permits issued were not specified in the report released. Read more...

Oakville Real Estate Mortgage Report

Whether you are buying your first home, moving from one home to another, or just re-financing your current mortgage, knowing the current best mortgage rates avalable can save you thousands of dollars over the term of your mortgage. As an 'Oakville Real Estate Agent', I always recommend that my clients talk to my mortgage specialist, or, go into their own bank knowing what the best available rates are. Most major banks will negotiate on the rates that they are offering, and will often come right down the the best available rate, if you are knowledgable, quote the best rate, and ask them to match it. For example, if you were in the 'Oakville Real Estate' market for a home with a purchase price Read more...

GO Transit Welcomes Back Niagara Falls Rail Service

GO Transit will be once again offering weekend rail service between Toronto and Niagara Falls beginning on Victoria Day weekend. Weekend train trips will run Fridays, Saturdays and Sundays, and are great for those in the Oakville Real Estate area looking to get away for the day. "We are pleased to be able to restore our weekend rail service between Toronto and Niagara Falls," said GO Transit President, Gary McNeil. "Passengers rely on our rail service to provide a fast, convenient and cost effective travel option for their summer weekend getaways. We know that we will also attract new passengers who want to explore the beautiful Niagara Region." Read more...

Prime Rate - What is the Prime Rate?

The Prime Lending Rate in Canada is a guideline interest rate charged by banks on loans for their most creditworthy or “best” clients. The actual minimum rate, however, may differ slightly from lender to lender. Banks and lenders in Canada do follow the prime rate in order to remain competitive, but at the same time they may add their own monetary spread to the prime rate. For example, when the prime lending rates were high, many lenders in Canada were offering variable rates at prime minus .90 per cent. If the prime rate is low, lenders could potentially offer variable rates at prime plus a percent. This model of prime rate tracking allows lenders to remain highly competitive while still adhering to the fluctuating interest rate of prime. Read more...

Downtown Oakville Runway Show!

On May 7th, the Oakville Real Estate market will become fashion central. The spokesperson for fashion in Canada is, without a doubt, Jeanne Beker. As the longtime host of Fashion Television, Jeanne has the inside scoop directly from the runways of the hottest fashion shows around the world, as well as access to all of the most famous, sought-after designers. She is also a noted author; a judge on CTV’s Canada’s Next Top Model and has recently launched her own divine line of clothing. No one knows fashion better than Jeanne Beker, and there’s certainly no one better to host this year’s Downtown Oakville Mercedes-Benz Runway Show! Read more...

Overnight Rate - What is the Overnight Rate?

The overnight rate in Canada is an important part of Canada’s monetary policy. The Bank of Canada has control of the key overnight rate, which determines the interest rate that major financial lenders and institutions lend and borrow one-day (or "overnight") money between each other. Read more...

Oakville Real Estate - 5th annual Easter Egg Hunt

The 5th annual Castlebrook-Millrun Easter egg hunt was another success this year. The event that took place in one of the Oakville Real Estate markets popular West Oak Trails neighbourhoods. This is just one of the annual events that that you will see in many of the great neighbourhoods throughout Oakville Real Estate area. The Easter egg hunt was organized by friends and neighbours for all the children living in the area. Participating families hide treats for the kids all around their homes and in their front yards. The organizers also provide Tim Hortons Coffee and assorted snacks for the adults to enjoy while the kids are having fun. Read more...

Big Banks Lowering Mortgage Rates

Some of Canada’s biggest banks are lowering some of their fixed rate mortgages to counteract the effect of jittery investors moving to bonds, which causes a drop in long-term interest rates. Investor's nerves have been shaken by the recent tragic events in Japan and fears that a potential nuclear disaster could create serious problems for the Global economy. Read more...

Oakville Real Estate – Leader in Trenchless Technology Construction

The Halton Region was recognized for its commitment to trenchless technology on construction projects this week. During its 20th anniversary, the North American Society for Trenchless Technology (NASTT) recognized Halton Region for its significant contribution and education to trenchless technology, which refers to construction methods that repair, replace or install buried pipes and structures without any, or minimal, excavation. This has had an impact on the Oakville Real Estate market by keeping the road delays to a minimum while development continues to the Northern Oakville Real Estate area. Read more...

Oakville Real Estate – Skateboard Park finds home in Glen Abbey Park

A much relocated skateboard park is now one step closer to having a permanent home in the Oakville Real Estate area at Glen Abbey Park. Oakville’s Community Services Committee voted Wednesday night to install the skateboard facility, originally located at West Oak Trails Park, at the Glen Abbey Park/Community Centre location. The facility would be located in the Oakville Real Estate area just north of the Glen Abbey Park central baseball diamond and south of the Abbey Plaza. Read more...

Oakville Real Estate - OREA explains the HST on youtube

The HST has been around for some time now, and most 'Oakville home' buyers are aware that the HST does not apply to resale home purchases, however, there is still a little confusion with some in the 'Oakville Real Estate' market about the HST. The Ontario Real Estate Association, in partnership with Ontario Revenue Minister Sophia Aggelonitis, have released a video to clarify the rules for those looking to purchase a home and to eliminate confusion around HST as it applies to resale and new home purchases. Read more...