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Tag: Reverse Mortgages

Canada

The Ontario Teachers’ Pension Just Bought Canada’s Largest Reverse Mortgage Lender

September 22, 2021

Canadian home prices are moving faster than wages, leaving a lot of cash-poor, house-rich Boomers. The Ontario Teachers’ Pension Plan Board (OTPPB) must see opportunity, because they are buying a large reverse mortgage lender. The pension announced its acquisition of HomeEquity bank today. It might not be a familiar name, but their flagship product might […]

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Canada

Canadian Seniors Racked Up $408 Million More In Reverse Mortgage Debt This Year

December 29, 2020

Canadian seniors are still withdrawing home equity at a brisk pace over the past few months. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt hit a new record in October. Growth of reverse mortgage debt picked up from previous months as well. However, it’s still growing at a slower than […]

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Canada

Canadian Seniors Raiding Their Home Equity With Reverse Mortgages Picks Up Again

July 2, 2020

Canadian seniors briefly slowed down home equity borrowing last year, but it’s picking up again. Regulatory filings with the Office of the Superintendent of Financial Institutions (OSFI) show the balance of reverse mortgage debt reached a new record high in April. Growth has slowed down from all-time highs, but the balance of reverse mortgage debt […]

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Canada

Canadian Seniors Are Back To Accelerating Reverse Mortgage Debt Growth

March 24, 2020

It was a slow holiday, but Canadian seniors are back to tapping their  home’s value for cash. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached a new high in January. The new high came with a sharp acceleration in growth, but the rate is in line with historic numbers. […]

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Canada

Canadian Reverse Mortgage Debt Tops $4 Billion For The First Time Ever

March 9, 2020

Canadian seniors pushed another segment of debt to a new milestone. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt hit a new all-time high in December. The high is the first time reverse mortgages reached a balance of over $4 billion. Reverse Mortgages For those that don’t know, a reverse […]

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Canada

Canadian Seniors Now Owe Almost $4 Billion In Reverse Mortgage Debt

January 27, 2020

Canadian seniors slowed their reverse mortgage borrowing, but the rate was still high. Office of the Superintendent of Financial Institutions (OSFI) data shows the balance of reverse mortgage debt hit a new high in November. Reverse mortgage debt has seen growth explode over the past few years. Recently, things have begun to show some signs […]

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Canada

Canadian Seniors Now Owe Over $3.88 Billion In Reverse Mortgage Debt

November 25, 2019

Canadian seniors are picking up the pace they extract equity from their homes. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached an all-time high in September. The all-time high comes with a mild acceleration to an already very large growth rate. What Is A Reverse Mortgage? Reverse mortgages are […]

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Canada

Canada’s Cash Strapped Boomers Are Racking Up Reverse Mortgage Debt Very Fast

November 13, 2019

Cash strapped, house rich Boomers (and beyond!) are cashing in on their housing windfalls. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached a new high in August. The pace of growth is finally leveling out, but it’s still one of the fastest growing segments of debt. Reverse Mortgage Reverse […]

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Canada

Canadian Reverse Mortgage Debt Rises Over 26%, As Seniors Raid Their Equity

October 15, 2019

Canadian seniors extracting home equity is slowing, but still growing at a high pace. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgages hit a new high in July. The 12-month rate of growth remains unchanged from a month before. However, the month before was still a very large […]

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Canada

Canadian Reverse Mortgage Debt Is Up Over 26% From Last Year

September 10, 2019

Canadian seniors are slowing down on the equity binge, but they’re still tapping quite a bit. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached a new high in June. Canadian reverse mortgage debt is decelerating in growth, but is still one of the fastest growing segments of debt. Reverse […]

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