Canadians are finally getting shy about spending their recent home equity windfall. Regulatory filings show the outstanding balance of home equity line of credit (HELOC) fell in January. It wasn’t just HELOC, but all home equity borrowing showed a substantial monthly contraction. Falling home values and rising interest costs might have finally tempered the spending […]
Canadians are cooling on home equity line of credit (HELOC) loans, but homes are still being used as ATMs. Filings show the balance of HELOC loans fell slightly in November. Don’t let that fool you into thinking the spree of home equity spending is over though. Households are still borrowing hundreds of millions per month […]
Canadian real estate values are soaring, but owners don’t want to sell to tap that windfall. Instead they’re taking out loans against the equity — big loans. Regulatory filings reveal a surge in home equity line of credit (HELOC) debt in April 2022. However, HELOC debt is just a part of the total for home […]
Canadians are tapping that windfall of home equity and are ready to pay a lot of interest to do so. Filings with the bank regulator show home equity line of credit (HELOC) debt increased in March. It’s now growing at the fastest rate since 2013, after contracting over the past few years. The debt is […]
