Canadian homeowners were buckling down on the spending ahead of the pandemic. Office of the Superintendent of Financial Institutions (OSFI) data shows the balance of loans secured by residential real estate, such as HELOCs, made a tiny move in January. The movement, the weakest in over half a decade, saw the balance fall from all-time […]
Canadians slowed their renovation spending, but that’s expected to change. Altus Group is forecasting an upcoming rise in renovation spending, after a decline in 2018. The firm expects 2019 numbers to come in higher when reported later this year. They also expect 2020 numbers to top last year’s final numbers, fueled by HELOCs and mortgage […]
Canadians are becoming a little more cautious about using their homes like ATMs. Office of the Superintendent of Financial Institutions (OSFI) filings show loans secured by residential real estate slowed dramatically in December. This segment of debt has been slowing in growth over the past year. Recently, the balance has begun negative real growth. Canadians […]
Canadians are slowing the pace at which they use their homes as an ATM. Office of the Superintendent of Financial Institutions (OSFI) show loans secured by residential real estate reached a new all-time high in September. The new high came with some of the lowest 12-month growth Canadians have seen in a long time. Loans […]
Canadian real estate sales are up, mortgage credit is growing, but home equity loans are slow? Office of the Superintendent of Financial Institutions (OSFI) filings show debt secured by homes reached a new high in August. The increase in debt is getting slower though, as the segment of credit growth tapers quickly. Loans Secured By […]
Phew! Canadians are over the possibility of home prices dropping, and are back to using their homes as ATMs. Office of the Superintendent of Financial Institutions (OSFI) filings show massive growth for home equity lines of credit in July. The annual pace of growth was the second highest for the month in the past seven […]
The Christopher Columbus of central banks has discovered what everyone knows – Canadians are burning equity. A LOT of it. Bank of Canada (BoC) staff have concluded homeowners are extracting a lot of home equity. Consumption and the economy are boosted by the home equity extracted. However, the more significant the sum extracted, the more […]
Canadian real estate owners are back to borrowing against their home equity. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of home equity lines of credit (HELOC) debt reached a new high in June. Growth is no longer near the peak seen a couple of years ago, but still much higher […]
Canadian real estate owners just squeezed out a new record for borrowing home equity. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential property reached a new record high in May. The record high came with smaller than typical monthly increase. However, the annual increase was the […]
Canadian real estate owners reached a new debt milestone. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential real estate reached a new high in April. The new high is the first-time in history the balance has passed the $300 billion mark. Loans Secured By Residential Real […]
