A recent Royal LePage survey by Nanos suggests that a considerable portion of Ontarians anticipating mortgage renewals within the next 18 months are concerned about the accompanying costs.
The initiative aims to relieve financial pressure for clients seeking debt consolidation and those looking to purchase property during challenging economic situations.
Challenges continue to mount for Canada's housing market. In September, major housing markets saw a slowdown in sales due to an increase in property listings and decreased demand.
Canada's inflation rate stood at 3.3 per cent in July, and the Bank of Canada predicts it might increase in the coming months before eventually subsiding.
A HELOC (Home Equity Line of Credit) is a loan that is secured by real estate and is a cost effective and flexible way to access equity from real estate assets.