Canadian HELOCs Archives - Better Dwelling https://betterdwelling.com/tag/canadian-helocs/ Canada’s Fastest Growing Real Estate News Source Sun, 08 Jan 2023 16:10:45 +0000 en-US hourly 1 https://i0.wp.com/betterdwelling.com/wp-content/uploads/2016/07/cropped-better-dwelling-flower-logo.png?fit=32%2C32&ssl=1 Canadian HELOCs Archives - Better Dwelling https://betterdwelling.com/tag/canadian-helocs/ 32 32 64691831 Canadian Home Equity Loans Surged After Regulator Warnings https://betterdwelling.com/canadian-home-equity-loans-surged-after-regulator-warnings/ https://betterdwelling.com/canadian-home-equity-loans-surged-after-regulator-warnings/#comments Mon, 02 Jan 2023 20:00:31 +0000 https://betterdwelling.com/?p=22628 Canadian homeowners have been using their home equity to secure an alarming amount of debt. Filings with OSFI, Canada’s bank regulator, show the value of loans secured by housing continued to advance in October. Over the past year, growth of loans secured by home equity has surged at one of the fastest rates ever. It’s […]

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]]> https://betterdwelling.com/canadian-home-equity-loans-surged-after-regulator-warnings/feed/ 10 22628 Canadian HELOC Debt Is Accelerating As Interest Rates Rise https://betterdwelling.com/canadian-heloc-debt-is-accelerating-as-interest-rates-rise/ https://betterdwelling.com/canadian-heloc-debt-is-accelerating-as-interest-rates-rise/#comments Fri, 26 Aug 2022 20:20:38 +0000 https://betterdwelling.com/?p=21731 Canadian HELOC debt is climbing at the fastest rate in nearly a decade, despite rising interest rates designed to cool borrowing.

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]]> https://betterdwelling.com/canadian-heloc-debt-is-accelerating-as-interest-rates-rise/feed/ 7 21731 Canadian HELOC Debt Hits A 9-Year High For Growth, An Abrupt Surge In Borrowing https://betterdwelling.com/canadian-heloc-debt-hits-a-9-year-high-for-growth-an-abrupt-surge-in-borrowing/ https://betterdwelling.com/canadian-heloc-debt-hits-a-9-year-high-for-growth-an-abrupt-surge-in-borrowing/#comments Tue, 26 Jul 2022 16:33:18 +0000 https://betterdwelling.com/?p=21403 Canadian HELOC debt is starting to surge as homeowners tap their home equity at a time when credit is tightening and home prices are falling.

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]]> https://betterdwelling.com/canadian-heloc-debt-hits-a-9-year-high-for-growth-an-abrupt-surge-in-borrowing/feed/ 6 21403 Canadians Took Out $2 Billion In HELOC Debt Over Just 28 Days, Most Since 2012 https://betterdwelling.com/canadians-took-out-2-billion-in-heloc-debt-over-just-28-days-most-since-2012/ https://betterdwelling.com/canadians-took-out-2-billion-in-heloc-debt-over-just-28-days-most-since-2012/#comments Wed, 27 Apr 2022 16:58:37 +0000 https://betterdwelling.com/?p=20362 Canadian interest rates are on the rise and households apparently took that as a warning to borrow as much as possible. Filings with the Office of the Superintendent of Financial Institutions (OSFI) show home equity line of credit balances surged higher in February. Over 28 days, Canadians borrowed $2 billion more in HELOC debt — […]

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]]> https://betterdwelling.com/canadians-took-out-2-billion-in-heloc-debt-over-just-28-days-most-since-2012/feed/ 8 20362 Canada’s Bank Regulator Is Targeting CLP Mortgages For Inflating Real Estate Prices https://betterdwelling.com/canadas-bank-regulator-is-targeting-clp-mortgages-for-inflating-real-estate-prices/ https://betterdwelling.com/canadas-bank-regulator-is-targeting-clp-mortgages-for-inflating-real-estate-prices/#comments Thu, 10 Mar 2022 22:05:45 +0000 https://betterdwelling.com/?p=19908 Canadian real estate has a new risk factor catching the attention of regulators — CLPs. Combined Mortgage-HELOC Loan Plans (CLPs), better known as readvanceable mortgages, are fueling higher home prices. That was the take from OSFI, the country’s bank regulator. CLPs are rarely mentioned by regulators, but they’ve come up in several speeches since last […]

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]]> https://betterdwelling.com/canadas-bank-regulator-is-targeting-clp-mortgages-for-inflating-real-estate-prices/feed/ 6 19908 Canadian HELOC Debt Just Made The Biggest Jump Since March 2020 https://betterdwelling.com/canadian-heloc-debt-just-made-the-biggest-jump-since-march-2020/ https://betterdwelling.com/canadian-heloc-debt-just-made-the-biggest-jump-since-march-2020/#comments Tue, 25 Jan 2022 16:48:58 +0000 https://betterdwelling.com/?p=19486 Canadian owners eased on home equity line of credit (HELOC) debt, but they’re warming up to using them again. Office of the Superintendent of Financial Institutions (OSFI) data shows an abrupt jump in HELOC debt for November. The credit segment had been shrinking for over a year, with only a few minor monthly bumps higher. […]

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]]> https://betterdwelling.com/canadian-heloc-debt-just-made-the-biggest-jump-since-march-2020/feed/ 7 19486 The Smith Maneuver: The Loophole Canadian Real Estate Owners Use To Lower Taxes https://betterdwelling.com/the-smith-maneuver-the-loophole-canadian-real-estate-owners-use-to-lower-taxes/ https://betterdwelling.com/the-smith-maneuver-the-loophole-canadian-real-estate-owners-use-to-lower-taxes/#comments Wed, 22 Dec 2021 00:06:14 +0000 https://betterdwelling.com/?p=19194 Canadians often complain mortgage interest isn’t tax deductible, like in the US. Some argue this is a trade off for the capital gains exemption Canadian homeowners have. However, one of the worst kept secrets in finance is mortgage interest can be turned into a deduction. One of those strategies is the Smith Maneuver, created by […]

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]]> https://betterdwelling.com/the-smith-maneuver-the-loophole-canadian-real-estate-owners-use-to-lower-taxes/feed/ 8 19194 Canadian Home Equity Has Been Used To Secure 69% More Debt Than HELOCs Show https://betterdwelling.com/canadian-home-equity-has-been-used-to-secure-69-more-debt-than-helocs-show/ https://betterdwelling.com/canadian-home-equity-has-been-used-to-secure-69-more-debt-than-helocs-show/#comments Tue, 21 Dec 2021 17:13:46 +0000 https://betterdwelling.com/?p=19188 Canadians tapped a lot more equity than their home equity line of credit (HELOC) balances show. Office of the Superintendent of Financial Institutions (OSFI) filings show loans secured by homes jumped in October. HELOC debt is the most common type of loan secured by homes, but represents just a small share of the debt. Homeowners […]

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]]> https://betterdwelling.com/canadian-home-equity-has-been-used-to-secure-69-more-debt-than-helocs-show/feed/ 13 19188 Canadian HELOC Balances Rise Another $1.7 Billion In A Month https://betterdwelling.com/canadian-heloc-balances-rise-another-1-7-billion-in-a-month/ https://betterdwelling.com/canadian-heloc-balances-rise-another-1-7-billion-in-a-month/#comments Tue, 30 Nov 2021 01:04:03 +0000 https://betterdwelling.com/?p=18930 Canadian homeowners are tapping their real estate windfall to fund a spending binge. Bank of Canada (BoC) data shows home equity lines of credit (HELOC) debt surged in September. HELOC debt slowed last year but now it’s back with a vengeance, growing faster than the economy. Experts say it provides a boost to the economy […]

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]]> https://betterdwelling.com/canadian-heloc-balances-rise-another-1-7-billion-in-a-month/feed/ 11 18930 Canadians Now Owe Over $266 Billion In HELOC Debt https://betterdwelling.com/canadians-now-owe-over-266-billion-in-heloc-debt/ https://betterdwelling.com/canadians-now-owe-over-266-billion-in-heloc-debt/#comments Fri, 01 Oct 2021 03:05:33 +0000 https://betterdwelling.com/?p=18306 Canadians are once again comfortable spending their recent home equity windfall. The balance of home equity line of credit (HELOC) debt reached a new record high in July. Growth has recovered from last year’s low, and is now at the highest level since before the pandemic.  Canadians Owe Over $267 Billion In Debt Secured By […]

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