OSFI announce new changes to rules around re-advanceable lines of credit today, mandating that effective October 2023, borrowers will have to pay down their mortgages to 65% of their property value before they will be able to re-access equity via a line of credit.

OSFI Rule Changes – https://www.bnnbloomberg.ca/video/osfi-makes-modest-changes-to-mortgage-lending-rules~2474553

Half of Canadians Don’t Pay Principal on HELOCs – https://www.bnnbloomberg.ca/27-of-homeowners-have-a-heloc-half-paying-down-principal-poll-1.1785417

OSFI is Very Worried About Canadians Financial Health – https://www.bnnbloomberg.ca/osfi-is-very-worried-about-canadians-financial-health-routledge-1.1785197

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