Building Industry

Canadians using their homes as ATMs in a swooning housing market put financial system at risk: DBRS

Canadians using their homes as ATMs in a swooning housing market put financial system at risk: DBRS

Canadians are ramping up borrowing against their homes even as the real estate market slumps, exposing the country‚Äôs financial system to vulnerabilities, rating company DBRS said.Home equity lines of credit, or Helocs, reached a record $243 billion as of Oct. 31, or 11.3 per cent of total household credit, the highest share since mid-2015, analysts…