Best mortgage rates for Oakville on RateSupermarket.ca
If you are looking to search for the best mortgage rates in Oakville, you've come to the right place. RateSupermarket.ca compares over 55 mortgage lenders and Oakville mortgage brokers so you'll be sure to find the best mortgage rates in Oakville. You can either go compare Oakville's current mortgage rates now at, http://www.ratesupermarket.ca/best_mortgage_rates/Oakville.html, or look at the latest Oakville mortgage news listed below.
Toronto area (including Oakville) Mortgage Rates Will Remain Relatively Flat
The Canadian Mortgage and Housing Corporation (CMHC) has reported in their latest Oakville Housing Association Market Outlook that posted mortgage rates eased by about 50 basis points in the first four months of this year, although rates in late April were 30 to 35 basis points higher than they were 12 months prior. Mortgage rates are expected to trend marginally lower throughout 2008, but will be within 25-50 basis points of their current levels. For 2009, posted mortgage rates will begin to drift up slightly as the year progresses. For 2008 and 2009, the one-year posted mortgage rate is forecast to be in the 6.50- 7.50 per cent range, while three and five-year posted mortgage rates are forecast to be in the 6.75-7.50 per cent range.
Oakville Q1 2008 housing prices
These are the latest Oakville house prices according to the Royal Lepage Survey of Canadian House Prices.
Property type
Detached Bungalow
Price Jan-Mar 2008
$315,000
Price 3 months ago
Price 1 year ago
% Change 1 year
Estimated Taxes
$300,000
$300,000
5%
$3,000
Executive Two-Storey
$470,000
$425,000
$413,000
13.3%
$4,000
Standard Two-Storey
$350,000
$350,0000
$340,000
2.9%
$2,800
Standard Townhouse
$260,000
$260,000
$250,000
4%
$2,300
CMHC Oakville area housing market & Oakville area mortgage rate forecast
Unfortunately, the CMHC doesn't report on Oakville specifically regarding the housing and mortgage market, however, we've included the closest surrounding areas.
Census Metropolitan Area
Total Housing Starts
MLS sales
MLS average price
Mortgage rates (1 year)
Mortgage rates (5 year)
2007
3,004
13,866
$268,857
7.35%
7.54%
Hamilton
2008 (F)
3,040
12,900
$285,000
6.95%
7.01%
2009(F)
2,890
12,100
$296,000
6.83%
6.97%
2007
33,293
95,164
$377,029
7.35%
7.54%
Toronto
2008 (F)
35,000
84,000
$394,000
6.95%
7.01%
2009(F)
33,600
77,000
$404,000
6.83%
6.97%
Source = CMHC MLS = Multiple Listings Service
Mortgage lender's and mortgage broker's rates that we compare in Oakville, Ontario, Canada
RateSupermarket.ca compares the most mortgage rates in Oakville, Canada from the top lenders including banks, credit unions, trusts, and are also the only site to compare Oakville mortgage broker's rates. RateSupermarket.ca compares mortgage rates from the following:
AGF Trust Alterna Bank Alterna Savings Bank of Montreal Bank of Nova Scotia Bridgewater Bank Caisses Desjardins Canadian Tire Financial Services Canadian Western Trust Cataract Savings & Credit Union CIBC Mortgages Citibank Citizens Bank of Canada Comtech Credit Union Concentra Financial DUCA Financial Services Effort Trust Equitable Trust First National Financial FirstLine Mortgages FirstOntario Credit Union Home Trust Company HSBC Bank Canada ICICI Bank Canada ING Direct Investors Group Trust Lambton Financial Credit Union Laurentian Bank Canada Libro Financial Group London Life Manulife Bank MCAP Meridian Credit Union National Bank Ontario Civil Service Credit Union PACE Savings and Credit Union Parama Credit Union Peace Hills Trust PC Financial Promutuel Capital ResMor Trust Royal Bank of Canada So-Use Credit Union Steinbach Credit Union TD Canada Trust True North Mortgage Virtual One Credit Union Windsor Family Credit Union Your Credit Union Your Neighbourhood Credit Union
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