Mortgage expert alert: Will the Iran War and rising inflation offer a buying opportunity in 2026? + MORE Apr 9th
Mortgage Digest: Arrears rise to highest level since 2020, but remain low overall + MORE Jan 23rd
Making sense of the Bank of Canada interest rate decision on July 30, 2025 + MORE Aug 1st
Home construction must double over next decade to restore 2019 affordability: CMHC + MORE Jun 20th
What New Year’s credit deals promise—and why you should be wary Jan 17th
Planning to use your home equity in retirement
– moneysense.ca
How much of your net worth is wrapped up in your home? According to Statistics Canada, the median net worth for senior families in 2023 was $1,109,700. The most common type of asset for Canadians was a family home, with a median value of $500,000.
Since home equity makes up such a significant allocation of Canadian wealth, it is only natural to wonder how best to use this equity in retirement. Let’s look at three options for retirees: using a home equity line of credit (HELOC), taking out a reverse mortgage and selling your home.
HELOC rates in Canada
A HELOC is a simple and flexible way to spend your home equity. You can borrow as needed up to your credit limit and pay interest only on the balance borrowed. As a secured loan, the HELOC uses your home for collateral. Secured loans typically have lower interest rates than unsecured loans (such as personal loans and credit card debt). Currently, HELOC rates in Canada are about 5% to 6%.
Many people have lines of credit during their working years and use them for various purposes…
EQB gains mortgage share in slower housing market
– canadianmortgagetrends.com
EQB saw continued strength in its uninsured mortgage and CMHC-backed multi-unit lending businesses in Q2 despite a challenging macroeconomic backdrop and a rise in credit losses linked to 2022-vintage loans.
