Reverse Mortgage News

HELOCs a Solid Alternative to Reverse Mortgages

With the surging popularity of reverse mortgages, it’s important to remember that they can be valuable tools, but only if other lower-cost options are exhausted first. Why? Because most reverse mortgages rates start at around 6.59%, well above the average 3.47% rate for a standard [Read more]

Reverse Mortgage Growth on the Rise

Years of rising home prices have provided a home equity windfall to countless homeowners. And now more Canadians than ever are accessing that equity in the form of reverse mortgages. Reverse mortgage balances are growing nearly eight times faster than regular mortgage debt, according to [Read more]

Equitable Bank Launches the PATH Reverse Mortgage

HomeEquity Bank finally has competition. Equitable Bank has rolled out a product called PATH Home Plan, the first reverse mortgage to compete with CHIP since 2008. PATH has one key advantage over CHIP, its penalties. PATH’s prepayment fees are notably cheaper than CHIP which is [Read more]