HomeEquity Bank achieves continued growth in 2018 as interest in reverse mortgages continues to build
TORONTO, January 10th, 2019 – HomeEquity Bank, provider of the CHIP Reverse Mortgage™, reported $767M in reverse mortgage originations for 2018. This represents a 26 per cent increase over the previous year, demonstrating continued growth in demand by Canadians aged 55+ to access the equity in their homes. These strong 2018 results reflect a significant increase in HomeEquity Bank’s mortgage broker and bank referral business, as well as continued consumer interest in the product as a reliable resource in their ret
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Downsizing the home not a guaranteed financial windfall in retirement
Three in ten (27%) Canadian boomers who chose to downsize say costs were more than expected; four in ten (39%) who haven’t downsized are skeptical of the potential savings TORONTO, ON (September 19th, 2018) – For older Canadians considering selling a home to retire in a smaller living space or a more affordable community, downsizing may sound to some like a financial bargain, but 39 per cent of current homeowners are skeptical that downsizing will actually save them money. According to an Ipsos survey commissioned by Ho
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Older Canadian homeowners want eager homebuyers to back off
HomeEquity Bank research confirms the importance of retiring at home TORONTO, July 16, 2018 /CNW/ - Much to the chagrin of realtors across the country, an overwhelming number of Canadians (93 per cent) aged 65 plus feel it is important to stay in their current home throughout their retirement, according to an IPSOS survey conducted in June, 2018, commissioned by HomeEquity Bank (HomeEquityBank.ca). Yet as the Canadian population ages, many homeowners are feeling pressured to sell the home they love to help finance the
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HOMEEQUITY BANK POSTS RECORD 2017 GROWTH AS CANADIANS EMBRACE REVERSE MORTGAGES
TORONTO, January 15, 2018 – HomeEquity Bank, the national provider of the CHIP Reverse Mortgage™, posted record mortgage growth in 2017 with 32.5 per cent year over year growth. Reverse mortgage originations of $608MM for 2017 were driven by increased consumer familiarity with HomeEquity Bank’s flagship product as well as the growing need for consumers to finance their retirement in new ways. HomeEquity Bank’s record results also reflect a strong partnership with Canada’s mortgage brokers. In 2017, brokers were
Continue Reading...REALITY CHECK: HOMEEQUITY BANK RESEARCH HIGHLIGHTS SURPRISING HOLIDAY SPENDING LIST FOR CANADIAN SENIORS
REALITY CHECK: HOMEEQUITY BANK RESEARCH HIGHLIGHTS SURPRISING HOLIDAY SPENDING LIST FOR CANADIAN SENIORS TORONTO, December 11, 2017 - With the holidays just around the corner, recent research sponsored by HomeEquity Bank, the only national provider of the CHIP Reverse Mortgage™, outlined a surprising holiday spending list for Canadian seniors. While travel and home improvements were high on the list, a surprising one-third of respondents highlighted the need to financially support children and grandchildren, pay off
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