Canadians Now Owe Over $260 Billion In HELOC Debt, A New All-Time Record

Author: External Author | Categories: First Time Home Buyer Mortgage , Mortgage Agent , Mortgage Services

Canadians aren’t using their homes like an ATM. At least not as much as you would think. Bank of Canada (BoC) data shows home equity line of credit (HELOC) balances reached a record high in March. It barely did so, with a rate of growth so low it would be negative if inflation adjusted. This is really different from the last time home prices ran, which saw HELOC balances soar. 

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Original Article Source Credits:   Better Dwelling ,

Article Written By:  Daniel Wong

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