{"id":33613,"date":"2018-04-21T10:35:27","date_gmt":"2018-04-21T15:35:27","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33613"},"modified":"2018-04-21T10:35:27","modified_gmt":"2018-04-21T15:35:27","slug":"congrats-canadians-just-set-a-new-record-for-borrowing-against-their-homes","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33613","title":{"rendered":"Congrats! Canadians Just Set A New Record For Borrowing Against Their Homes"},"content":{"rendered":"
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Congrats! Canadians Just Set A New Record For Borrowing Against Their Homes<\/a><\/h3>\n<\/header>\n
\"Congrats!<\/div>\n
Canadian real estate related debt tapering? That would be ridiculous! Filings obtained from the Office of the Superintendent of Financial Institutions<\/a> (OSFI) show, after a brief decline in January, the balance of loans secured by residential real estate hit a new high in February. More interesting is the segment of loans being used for personal consumption, is growing at the fastest pace in years.<\/div>\n
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Securing A Loan With Home Equity<\/strong><\/p>\n

Loans secured by residential real estate are exactly what they sound like. They\u2019re loans that you pledge your home equity in order to secure. The most common example would be a Home Equity Line of Credit (HELOC). You know, the same type of loan the Canadian government is discretely paying to teach you how to borrow<\/a>. There\u2019s also more productive uses, like when you start a new business and need to use your home as security \u2013 just in case you aren\u2019t able to pay your loan shark<\/del> bank back.<\/p>\n

Either way, debt is debt. The big difference to note is a loan secured for personal reasons, is considered non-productive. The borrower isn\u2019t expected to take a calculated risk, in order to earn more money. A business loan is considered productive, since it might generate more money. This isn\u2019t just our opinion, banks actually classify these loans separately in their filings. Today we\u2019ll go through the aggregate of these numbers, then break them down segment by segment.<\/p>\n

People Used Over $283 Billion In Home Equity To Secure Loans<\/strong><\/p>\n

Loans secured by real estate hit a new all-time high in February. The total balance of loans secured with real estate racked up to $283.65 billion, up 0.77% from the month before. This represents a 7.79% increase compared to the same month last year.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Congrats! Canadians Just Set A New Record For Borrowing Against Their Homes Canadian real estate related debt tapering? That would be ridiculous! Filings obtained from the Office of the Superintendent of Financial Institutions (OSFI) show, after a brief decline in January, the balance of loans secured by residential real estate hit a new high in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[63,15863,103,195,17497,7829,19876],"class_list":["post-33613","post","type-post","status-publish","format-standard","hentry","category-economics","tag-banks","tag-better-dwelling","tag-canada","tag-debt","tag-heloc","tag-home-equity-line-of-credit","tag-home-equity-loans"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33613"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33613\/revisions"}],"predecessor-version":[{"id":33614,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33613\/revisions\/33614"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}