An intravascular balloon catheter including a dilation balloon is provided. The intravascular balloon catheter includes a shaft assembly including a proximal end, a distal end, and an inflation lumen extending longitudinally therethrough. The dilation balloon is operably coupled proximate the distal end of the shaft assembly, such that an interior chamber of the dilation balloon is in fluid communication with the inflation lumen. In one aspect of the invention, a core wire is disposed within the inflation lumen of the shaft assembly. In another aspect of the invention, a tubular member extends longitudinally over the exterior of the dilation balloon for receiving a guidewire.