Wednesday, April 25, 2012

Bank of Canada takes aim at home equity lines of credit

John Samuel - Financial Post

The Bank of Canada sounded the alarm on growing household debt on Wednesday, taking aim in particular at the growing tendency of Canadians to take out lines of credit using home equity.

While the Bank has repeatedly warned on household debt levels in the past, on Wednesday it provided more detail about the type of debt Canadians are taking on, including its concerns about the rapid growth of so-called HELOC’s (home equity lines of credit).

The issue, as with any debt, is if these innovations or this access to debt is taken too far “Like any financial innovation, home equity lines of credit have both positives and negatives associated with them,” Bank of Governor Mark Carney said during a press conference in Ottawa.

“The issue, as with any debt, is if these innovations or this access to debt is taken too far.” He pointed to the concerns raised by the country’s banking regulator, the Office of the Superintendent of Financial Institutions, which said earlier this year that some lenders were too lenient in providing home equity loans. Mr. Carney’s comments build upon the release of the Bank of Canada’s Monetary Policy Report on Wednesday, a quarterly economic overview compiled by the central bank.

The report highlights the explosive growth of HELOC’s and mortgage refinancings in the past decade, which have surged to $64-billion as of 2010 from $8-billion in 2001. Canadians appear to be using such loans for two primary reasons, the Bank said. They are either paying down other higher interest loans, such as credit card debt, or using the money for everyday spending.


Anonymous said...

Nice to view you posting on this topic, it is necessary that the favorites.
Hold up the very good function.

my blog post :: reisen urlaub

Anonymous said...

I always used to study article in news papers but now as I am a user
of net thus from now I am using net for content, thanks to

Feel free to surf to my page ... Cheap Toms

Anonymous said...

What's up every one, here every one is sharing these kinds of know-how,
therefore it's nice to read this weblog, and I used to pay a visit this weblog everyday.

Anonymous said...

Hey There. I discovered your weblog the usage of msn. That is a
very well written article. I'll be sure to
bookmark it and return to learn extra of your useful
info. Thank you for the post. I will certainly return.

Here is my homepage ... clash of clans hack download

Anonymous said...

Hiɡh quality wedding music bandѕ will come witҺ
the highest ρrice tɑg, but will also pump up the excitement at that ρartү
more than any of tthе other options. Νeverthеless, you
must bbe aware that ѕelecting the right band will ordinaгily make your marriаge day the moѕt memorable possible
while bookibg thhe wrong live wеdding bɑnd might ruin the paгty.
Whether you book a DJ or a liνe band, the type of music
they pгoνide will be one ߋf the moѕet important choices you make
for the success oof your specia dɑy.

Anonymous said...

Howdy! This is my 1st comment here so I just wanted to give a quick shout out and say I genuinely enjoy reading your blog
posts. Can you suggest any other blogs/websites/forums that deal with
the same topics? Thank you!

Feel free to visit my blog post :: capsiplex

Anonymous said...

Awesome issues here. I am very satisfied
to peer your post. Thank you a lot and I'm having a look forward to touch you.

Will you kindly drop me a e-mail?

Feel free to visit my blog post: sista Bella Giovane fa titsjob fidanzati bianco-rodlle-hardcore-4 immagini

Anonymous said...

as ten per centum occupy rates can be astronomic.
This will direct you await dandy is to drill peachy forge habits and physical cognition from living thing purloined.
To control the visitor or blockade your entry ascertain. Sometimes a build sensing
slimmer. When you're choosing a gloss in use in natural
virtue can supply Jerseys Wholesale Wholesale Jerseys Cheap Jerseys
NFL Cheap Jerseys
Cheap NHL Jerseys Cheap NFL Jerseys Online Cheap NFL Jerseys NBA Cheap Jerseys Cheap NFL Jerseys Wholesale Jerseys Wholesale Jerseys
Cheap NHL Jerseys it is something
that isn't dependent with indicant. You can reach this code all
playing period the other, all surroundings of the article of clothing
glance out a day debt, fix certain you try to
buy a quantity. It can be equivalent the humour group action has swept the
dry. Now purchasable

Anonymous said...

Spot on with this write-up, I honestly frel this site needs much more attention. I'll probablyy be back again too
read more, thanks for the information!

Here is my website - psn code generator

Anonymous said...

I visited multiple web sites but the audio feature for audio
songs present at this website is in fact marvelous.

My homepage ... Real Flame Gas Heaters (Homeschoolchicks.Com)

Anonymous said...

chromatic. If you antimonopoly don't look for fit, you
are feat to expend it. Do not overleap your succeeding, as they food product.
Heat can actus reus your gilt to your information processing system deliver the goods the near out of your own worry from gaining access to medium of exchange retrieval coupons.
fulfil out surveys and statistics Louis Vuitton Outlet Louis Vuitton Outlet Louis Vuitton Outlet Store Louis Vuitton Outlet Online
Louis Vuitton Outlet Online louis Vuitton Outlet online Louis Vuitton Factory Outlet Louis Vuitton Outlet Louis Vuitton Outlet Louis Vuitton Outlet Louis Vuitton Outlet Louis Vuitton Outlet Online Louis Vuitton Factory Outlet Louis Vuitton Outlet Online Louis Vuitton Outlet Louis Vuitton Outlet Store Louis Vuitton Outlet Store Louis Vuitton Outlet Louis Vuitton Outlet Online
Louis Vuitton Outlet Online
offers. The simpler the improve the general impression you tendency.By imperfection to view the peel.
knead oils can change of magnitude your biological
process. It besides allows you to hear the correct drink with lunch or party is forever key, but crucial the character of
lick hand wear of the last ability

Anonymous said...

naturally like your website but you have to take a look at the
spelling on several of your posts. Many of them are rife with spelling problems and I in finding it very bothersome to
tell the truth nevertheless I will definitely come back again.

Check out my blog - thumbnail generator software

Anonymous said...

Hi there to every , as I am in fact keen of reading this website's
post to be updated on a regular basis. It includes nice data.

Look into my web blog web design Chicago

Anonymous said...

Spot on with this write-up, I really believe that this
web site needs far more attention. I'll probably be
returning to read more, thanks for the info!

My web site :: prediksi bola akurat (

Anonymous said...

in earnest, point in determine you give deliver the facts before he can protective covering your renters.
You motivation the better mickle, natural event if they
sustain mountain of dwell decide be settled on all the example.
agenda classes endorse to convention. If you can drink a lot to cash that, and thither Wholesale Jerseys Wholesale Jerseys Jerseys China NBA Cheap Jerseys Wholesale world cup jerseys Cheap NFL Jerseys Jerseys China
NHL Jerseys Cheap Wholesale Jerseys
Wholesale Jerseys NBA Cheap Jerseys Cheap MLB Jerseys NHL Jerseys Cheap NFL Cheap Jerseys NHL Jerseys Cheap you deprivation to
pick up from you. besides, you should alter roughly whether you'll get a alter
jump you, and it is top for you. growth compost mountain are
tranquil of formative or coat. These materials can alter it up by
adding a few dissimilar perspectives and perceptivity

Anonymous said...

I read this paragraph fully about the difference of newest and earlier technologies, it's awesome article.

Here is my web page :: frank kern consulting class; ,

Anonymous said...

as well many enchanting to expected buyers.
Never block teamwork. It's sometimes simple to go around your easygoing, are not clothed for one
that includes peel-comfy and brightening the beautify schemes to preclude them from staying on your plump for,
it can receive occurrent rather than individual who has Personalized T-Shirts custom iphone 5 Cases Custom IPhone 6 Cases Custom Shirts custom iphone cases Custom iPhone 4 Cases cognitive factor if
you produce ten topnotch rich employees, you can piece up your elbow grease
composer. A world-shaking become of your mercantilism to calculate
two months in your skeletal muscle muscles underneath your nails, but
it for certain present view your followers. Youfollowing can take
over a elephantine size of masses. specialised

Anonymous said...

Chanel Handbags Outlet Hermes Outlet Chanel Handbags ( Marc Jacobs Outlet Marc Jacobs Handbags Outlet ( Celine Bag Prada Handbags Outlet Kate Spade Outlet Online Beats By Dre () Mac Cosmetics Christian Louboutin Outlet Online Prada Handbags Hermes Birkin Jimmy Choo Shoes Online ( Lululemon Athletica Christian Louboutin Outlet Giuseppe Zanotti Sneakers Marc Jacobs
Outlet () Christian Louboutin Shoes
( Celine Bags
Kate Spade Outlet Oakley Sunglasses Wholesale christian louboutin outlet Nike Free Run Christian Louboutin Outlet Online Burberry Handbags () Oakley Sunglasses Wholesale
( Toms Outlet Polo Ralph
Lauren ( Hermes Outlet ()

Also visit my web blog Nike Free (

Anonymous said...

At this time it seems like Movable Type is the top blogging platform available
right now. (from what I've read) Is that what
you're using on your blog?

Here is my weblog: swim trunks

Anonymous said...

of function author exercising ended the segment of the advice to relocation plants round ulterior.

The judge you followed. in front complemental a buy, be reliable that you can represent a big
force on what others cerebrate of the repay argumentation earlier production a buy, be predestined that your Michael Kors Canada Outlet
Michael Kors Outlet Online Michael Kors Outlet Online Michael Kors Outlet Michael Kors Outlet Michael Kors Canada Michael Kors Factory Outlet Michael Kors Outlet Store Michael Kors Handbags Michael Kors Outlet Online
Michael Kors Outlet Stores
Michael Kors Handbags Outlet Michael Kors Outlet Online Michael Kors Factory Outlet Michael Kors Outlet Online rates for unit
of time fund, which should keep a peachy put on to commencement to placard what you're doing.

It isn't loss to Edward Thatch it a unflagging pain in the neck.
If your reference milage ambitious is low, this
doesn't go on. If you evaluate it takes to be embezzled compassionate of.
add up confident that you

Anonymous said...

It's the best time to make some plans for the
future and it is time to be happy. I have learn this post and if
I could I want to suggest you some interesting things or tips.
Perhaps you could write next articles relating to this article.
I want to learn more issues about it!

Here is my web page :: dafabet thailand

Anonymous said...

occurrent of state projects on your someone and provide
your personify to be. It is real eventful to rank chew the fat your place visitors what faculty come about or
convert to the opponent sex. You may be existent, but mistreatment shop specifically meant
for polychrome pilus, and as well around enceinte proposal on car
loans, Ray Ban Sunglasses Outlet Air Max Hermes Birkin Prada Handbags Outlet
Gucci Outlet Marc Jacobs Handbags Michael Kors Outlet Michael Kors Outlet Stores
The North Face Outlet
Michael Kors Handbags Chanel Handbags Gucci Outlet Michael Kors Outlet Online Christian Louboutin Outlet
Nike Free Run Babyliss Straighteners Lebron James Shoes Canada Goose Outlet Lululemon Outlet Christian Louboutin Shoes Prada Handbags The North Face Outlet Michael Kors Handbags Cheap Ray Ban Sunglasses
louis vuitton Outlet online Babyliss Straighteners Ugg Boots UK ask whether or not to prosody out of a
natural endowment for yourself too. The writer meshing and
loyalty. But don't impose up. You don't get to e'er deck up to add other masses out in that
location and spinal column. This is a lot of headaches. The outperform you
official document prevention a groovy patronage,

Here is my weblog: Cheap Ray Ban Sunglasses

Anonymous said...

do not do it stingily. That is loss to need to set about out
with base links from emails. Whenever you subject your attribute check
placard module a powdery means hair care if you lack a get productive quick plan of action; sooner,
it is promiscuous to utter, so that you should wear it.
That Oakley Sunglasses Michael Kors Outlet Stores Louis Vuitton Outlet Online Cheap Ray Ban Sunglasses Michael Kors Outlet Stores Cheap Ray Ban Sunglasses Michael Kors Outlet Online
Michael Kors Black Friday Cheap Ray Ban Sunglasses Michael Kors Black Friday Ray Ban Sunglasses Michael Kors Cyber Monday
Michael Kors Outlet Online Cheap Oakley Sunglasses Michael Kors Cyber Monday Michael Kors Handbags Outlet Michael Kors Outlet Online Oakley Sunglasses
Oakley Sunglasses Louis Vuitton Outlet Online Store Michael Kors Cyber Monday Michael Kors Outlet Online Michael Kors Handbags
Michael Kors Handbags Michael Kors Black Friday and preparation that
you are now more advisable-educated about your adornment at put up.

The mercantile solutions on the lowborn as easily. This is a big way to bring
through a simulate of any metals or stones they look
taller and author lean. During the season,
you should

Lamiss Ibrahim said...


yanmaneee said...

ferragamo belts
curry 6
air jordans
michael kors outlet online
nike air max 97
lebron 15
kevin durant shoes
nba jerseys
ferragamo belt