Canadian real estate owners in their not-so-golden years are on a borrowing spree. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage credit reached a new record high in May. The annual pace of growth showed deceleration, but it was still a huge month for growth. Reverse Mortgages Reverse mortgages are a […]
Screw HELOCs. Canadian homeowners in their golden years have a new favorite way to use their home like an ATM. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgage debt jumped in April. Reverse mortgage debt is now at a new all-time high, and still posting above 20% growth. […]
Canadian Boomers are back to tapping their home equity to make ends meet. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt hit a new record high in March. The record balance is still slowing in growth, but made a monthly increase larger than last year. That’s impressive, considering how fast […]
House rich, cash poor Boomers across Canada are sending reverse mortgage debt soaring. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgage debt made a slight decline in January. The monthly decline didn’t slow the annual pace of growth all that much. Outstanding reverse mortgage credit is growing at […]
More Canadian seniors are withdrawing real estate wealth to make ends meet. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgage debt soaring in October. The annualized pace of growth is now at the highest level it has been in at least 8 years. Reverse Mortgages Have all your […]
Canadian seniors short on cash, but rich in property are drawing on home equity at an alarming rate. Bank filings with the Office of the Superintendent of Financial Institutions (OSFI) show September saw mid-double digit growth in reverse mortgage debt. The type of debt, which services seniors, is set to see continued growth well into […]
Senior Canadian real estate owners are tapping equity at a breakneck speed. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt posted double digit gains in July. Actually, they’ve been posting double digit gains for nearly 6 years. Within the past year however, those gains have doubled. Reverse Mortgages Reverse mortgage […]
Trying to extract some of that money you’ve made with Canadian real estate? If you’re taking out a reverse mortgage, you’re going to make sure you pay your property taxes on time, every time.
Canadian real estate owners have received a windfall lately, but unfortunately it’s all trapped in their home. Office of the Superintendent of Financial Institutions (OSFI) numbers show that an increasing number of homeowners are “releasing equity” through a reverse mortgage. The relatively new form of debt is rapidly growing, at almost 8 times the pace […]
Canadian real estate debt problems are growing, as seniors increasingly turn to reverse mortgages to make up the gap between their home equity and retirement savings.
