More Canadians turning to reverse mortgages amid savings crunch

1/19/2023 | Posted in Home Owners by Jessi Sandhu

An increasing number of Canadians appear to be tapping into their homes for extra cash. ... More

Tags: Canada Living, Canadian HELOC, Cost of Living

HELOC debt continues to rise in Canada

8/31/2022 | Posted in Home Owners by Jessi Sandhu

More and more Canadians are drawing on the wealth represented by their homes. ... More

Tags: Canadian HELOC, Home Equity, Home Equity Lines of Credi

Delinquent HELOC debt expected to soon rise as interest rates increase, say experts

7/8/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu

As interest rates tick up, financial experts expect to see delinquency on home equity lines of credit rise in the next few months, especially if inflation refuses to budge. ... More

Tags: Canadian Debt, Canadian HELOC, Home Owners

Over-leveraged homeowners remain vulnerable to lenders

7/5/2022 | Posted in Canadian HELOC by Jessi Sandhu

A much anticipated federal clampdown on a new mortgage product that sinks over-leveraged homeowners deeper into debt has fizzled. ... More

Tags: Canadian HELOC, Home Owners, Household Debt, OSFI

27% of homeowners have a HELOC, half paying down principal: Poll

6/29/2022 | Posted in Canadian HELOC by Jessi Sandhu

Home equity lines of credit (HELOCs) were a common way for Canadian homeowners to tap into their home’s equity during the long run of low interest rates and rapidly rising ... More

Tags: Canadian Debt, Canadian HELOC, Home Equity, Home Equity Lines of Credi, Home Owners

Canadian banks expected to tighten home equity line of credit access

4/30/2020 | Posted in Canadian HELOC by Jessi Sandhu

Canadian banks may clamp down on HELOCs to reduce the risk of spikes in sour loans, which the banks are already bracing for ... More

Tags: Canadian Banks, Canadian Credit Market, Canadian HELOC, Real Estate Investors

Mortgages Soar For Canadians In Their 80s, 90s

9/20/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu

With new mortgage rules and higher interest rates putting the squeeze on Canadian homebuyers, some have found a new approach: Get the parents (or grandparents) to bankroll your ... More

Tags: Canadian HELOC, Canadian Seniors, Home Buyers, Mortgage Consumers, Mortgage Market, Mortgage Refinancing, Mortgage Trends, Mortgages & Real Estate, Move Up Home Buyers, NonMortgage Debt

Home renovations surge

7/27/2018 | Posted in Home Owners by Jessi Sandhu

Canadians spent nearly $78bln on renovations last year, but a slower sales cycle could impact that figure. ... More

Tags: Canada, Canadian HELOC, Home Owners, Home Renovation

Why consumers should be wary of using the wildly popular home equity lines of credit as ATMs

6/9/2017 | Posted in Financial Health by Jessi Sandhu

A federal agency is warning consumers addicted to home equity lines of credit — a product increasingly driving debt — could find themselves at increased risk of ... More

Tags: Canada Real Estate, Canadian HELOC, Home Equity, Home Equity Lines of Credi, Home Owners, Household Debt, Housing Correction