Blog  //  Oakville Real Estate by Ryan Crane

17 Mar 11 Posted by Ryan Crane in Oakville Mortgage Info | 0 comments

Prime Rate - What is the Prime Rate?

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...

16 Mar 11 Posted by Ryan Crane in Oakville Homes | 0 comments

Oakville Homes - Condo Townhomes

Oakville Homes - Condo Townhomes

Condo Townhomes in the 'Oakville Real Estate' market make up about 8% of all of the 'Oakville homes' that sell in a typical month, and range in price from around $240 000 at the entry level up to around $800 000 or more at the high end. Currently the average price of a Condo Townhome in Oakville is $386 140 while the Median price is $332 750. Condo townhomes cater to a wide variety of buyers. They can offer entry to the market for a first time buyer as the most affordable option, to a lifestyle choice for the most affluent buyer. Read more...

15 Mar 11 Posted by Ryan Crane in Oakville Homes | 0 comments

Oakville Homes - Freehold Townhomes

Oakville Homes - Freehold Townhomes

There are a wide variety of both Freehold and Condo Townhomes available in the 'Oakville Real Estate Market'. Freehold Townhomes, or Attached/Row homes as they are also commonly referred to differ from Condo Townhomes in several ways, but the most important distinction comes down to the land that the home is situated on. A Condo Townhome will usually have an address such as ‘123 Any Street Unit 45’ and be situated within a complex on private property. The land that it is situated on, including the yard, driveway, and roads are owned collectively by all of the unit owners and are known as the ‘common elements’. Read more...

03 Mar 11 Posted by Ryan Crane in Oakville Real Estate Market | 0 comments

Oakville Real Estate and GTA Market Watch

Oakville Real Estate and GTA Market Watch

The average selling price of a resale home in the GTA for the month of February came in at $454,423. This represented an increase of over five per cent versus the average of $431,509 reported in February 2010. During the same time, the 'Oakville Real Estate' market saw the average price increase by 12% verses the same time last year. 'Oakville Real Estate agents' reported the sales of 239 'Oakville Homes' in February, with an average price of $645 904. Read more...

01 Mar 11 Posted by Ryan Crane in Oakville Mortgage Info | 0 comments

Bank of Canada Maintains Overnight Rate at 1%

Bank of Canada Maintains Overnight Rate at 1%

OTTAWA, March 1 /CNW/ - The Bank of Canada today announced that it is 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. The global economic recovery is proceeding broadly in line with the Bank's projection in its January Monetary Policy Report (MPR), although risks remain elevated. U.S. activity is solidifying and remains supported by stimulative fiscal and monetary policies. Ongoing challenges associated with sovereign and bank balance sheets will limit the pace of the European recovery and are a significant source of uncertainty to the global outlook. Robust demand from emerging-market economies is driving the underlying strength in commodity prices, which could be further reinforced temporarily by supply shocks arising from recent geopolitical events. Read more...

 

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