Tag: Canadian Reverse Mortgages

Canada

Canadian Seniors Are Racking Up Reverse Mortgage Debt At A Rapid Rate

February 6, 2023

Canadian homeowners aren’t shy about cashing in on their windfall, especially seniors. Regulatory filings with OSFI, Canada’s bank regulator, show reverse mortgage debt surged in November. Despite rising interest rates, seniors haven’t slowed down on the rush to cash out some of their home equity windfall. In fact, reverse mortgage debt has recently surged in […]

Canada

Canadian Senior Homeowners Borrowed $5.4 Billion In Reserve Mortgage Debt

May 10, 2022

Canada’s house rich but cash strapped Boomers are back to tapping their home equity. Regulatory filings with the Office of the Superintendent of Financial Institutions (OSFI) show reverse mortgage debt hit a new record in February. Over the past couple of years, the segment had seen a slowdown. However, growth is now suddenly back and […]