EnglishРусский


xhamster porno

I Would Like to be Contacted

First name:
Last name:
Phone:
Email:
Comments:

Validation code:
   * All fields are mandatory

Contact Information

2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com





29 July 2019

Volume of loans secured by housing keeps growing

According to the recent report by the Office of the Superintendent of Financial Institutions (OSFI), the national balance of loans secured by residential housing rose to a record high mark of $301.18 billion in May.

Although a monthly increase was as small as 0.08%, which is much lower than the average number, a year-over-year comparison shows a 5.73% gain. It’s the second largest May growth in almost 7 years.

The report says $268.56 billion out of the overall number went into personal loans, which means consumers tend to use the equity for paying other bills more often. The monthly increase reached 0.06%, while the annual gain was 4.58%.

“When this sector shows strong growth, many consider it a point of concern. The Canadian government believes it may distort the financial distress statistics,” - Better Dwelling noted.

The report followed OSFI’s previous data saying the outstanding balance of reverse mortgage debt in Canada rose by 28.25% annually and reached $3.66 billion in April.

Specialists say such increase is excessive amid lower results in other credit sectors. “And as Canada’s population ages, we’ll see more consumers without cash but with expensive houses entering the segment”.

 

 

Add comment


Security code
Refresh

News

15 August 2019

Real estate sales kept growing in July The recent report by the Canadian Real Estate Association (CREA) shows the national housing market is reboundi...Read more >>

14 August 2019

GTA shows a detached market rebound The latest report by REMAX and Toronto Real Estate Board shows stronger activity at the detached homes segment of...Read more >>

13 August 2019

Canada lost 24,000 jobs, but the housing sector added 30,000 new positions For those who still have doubts that Canadian real estate drives the natio...Read more >>
Licence# 10349


7676 Woobine Avenue Suite 300 Markham, ON L3R 2N2
2180 Steeles Avenue West, Suite 204, Concord Ontario L4K 2Z5
© 2010 Michael Tulchenetskiy & Denys Derzhavets Mortgage Brokers. All Rights Reserved