Canadians have suddenly stopped borrowing their home equity, and are lowering exposure. At least a little, when it comes to personal loans. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by residential real estate fell in April. The dip was one of the largest single-month drops over the […]
Canadian homeowners love spending their home equity, but how much is left for an emergency? Bank of Canada (BoC) data shows homeowners have drawn a little over a third of available HELOC credit in Q4 2019. That doesn’t sound bad, until you realize what the distribution looks like. A significant number of homeowners were already […]
Canadians are back to using their homes as ATMs. At least they were, during the first month of the pandemic. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of loans secured by home equity reached a new high in March. The record is less surprising than the annual rate of growth […]
Canadians using their home as an ATM was drying up before the pandemic. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of credit secured by homes showing minimal growth in February. The slowdown is almost entirely due to a drop in personal loans in this segment, such as HELOCs. Loans Secured […]
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 […]
