Less Canadians are putting up their homes for business loans, and more are doing it for personal ones. Filings with The Office of the Superintendent of Financial Institutions (OSFI) show loans secured against residential property showed moderate growth in April. The loans, such as HELOCs, showed growth almost exclusively for personal consumption. Meanwhile, the dollar […]
Canadian real estate continues to be used as an ATM to drive the economy. Office of the Superintendent of Financial Institutions (OSFI) numbers show the balance of loans secured with homes hit a new high in March. While the outstanding balance did hit a new all-time high, we did witness the first taper of growth […]
Time for your cheat sheet on the most important real estate stories this week. Canadian Real Estate Canadians Have $201 Billion In HELOC Debt, And Over 30% Is In Toronto And Vancouver Canadians are rapidly borrowing against the values in their home. The outstanding balance of Home equity line of credits (HELOCs) across Canada is […]
Canadian real estate prices have been soaring, but much of those gains are already spent. Nearly half of Canada’s HELOC debt is located in just three cities.
Canadians are using their real estate to secure more debt at a new record pace, according to filings made with Canadian banking regulators.
Soaring real estate prices are seeing more Canadians borrow against the equity in their home, here’s how much and what they’re doing with it.