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Canadian homeowners are still turning to reverse mortgages in their golden years. Office of the Superintendent of Financial Institutions (OSFI) filings show the balance of reverse mortgage debt hit a new record high in February. Annual growth for reverse mortgage debt is slowing, but still on track to double every 3 years. What’s A Reverse […]
The post Canadian Seniors Rack Up Almost $3.5 Billion In Reverse Mortgage Debt appeared first on Better Dwelling.
Time for your weekly cheat sheet on this week’s most important stories. Canadian Real Estate Canadian Household Credit Growth Barely Moves, Annual Growth Falls To 1983 Levels Canadian debt reached a new record high, but barely. The balance of household debt reached $2.16 trillion in February, up 0.01% from the month before. The annual pace […]
The post This Week’s Top Stories: Toronto and Vancouver Real Estate Sales Drop To Multi-Year Lows, and Lenders Slash Borrowing Rates appeared first on Better Dwelling.
Fresh off an epic credit binge, households in Canada are starting to shy away from more debt. Bank of Canada (BOC) numbers show household debt levels barely moved in February. Not only did debt barely move from the month before, but the annual pace of growth fell to levels not seen since 1983. Canadian Households […]
The post Canadian Household Credit Growth Barely Moves, Annual Growth Falls To 1983 Levels appeared first on Better Dwelling.
Rising borrowing rates are putting a drag on the growth of Canadian household debt. Bank of Canada (BoC) numbers show household debt fell from an all-time high in January. The drop stalled the annual pace of growth at the same level one month before – at the lowest levels since 1983. Canadian Households Owe Over […]
The post Canadian Household Debt Tops $2.16 Trillion, Slowest January Growth Since 1983 appeared first on Better Dwelling.
Toronto and Vancouver real estate prices are cooling, but payments are still soaring. Canada Mortgage and Housing Corporation (CMHC) numbers show a big increase for the average payment in Q3 2018. The average payment on mortgages and home equity lines of credit increased at over 2x the rate of inflation. Toronto and Vancouver Mortgage Payments […]
The post Canada’s Largest Real Estate Markets See Mortgage and HELOC Payments Soar appeared first on Better Dwelling.
Canadian households have abruptly cooled their appetite for credit. Bank of Canada (BoC) numbers show households reached a record level of debt in December 2018. Despite reaching new highs, Canadians are less keep on borrowing right now. It’s not just due to the decline in home sales either – consumers are starting to cool their […]
The post The Last Time Canadian Household Debt Grew This Slow Was 1983 appeared first on Better Dwelling.
