Monday, September 16, 2013

Home Equity Line of Credit - HELOC

HELOC - Customer Level Pricing (CLP)

  • CLP is being introduced to provide customers with a competitive HELOC (Home equity line of credit) variable interest rate.
  • The CLP Rate is generated by evaluating a number of attributes that incorporate customer relationship, credit worthiness and HELOC application details such as appraised property value, collateral charge position, Equity Lending, credit worthiness etc.
  • If client is not satisfied with the CLP Rate, we still can submit a HELOC Pricing Exception Request.
  • Heloc is a good option for an equity take out for future investments. Send your inquiries now. 

From TD Economics
Housing starts fell to 180K units on an annualized basis in August, a 6.6% decrease from the month prior. Yet, the six-month moving average remained steady at 187K units. 

  • Home prices rose for the sixth consecutive month as the 11-city Teranet House Price Index (HPI) increased by 0.6% month-over-month in August. 
  •  Household leverage, as measured by household credit market debt to disposable income, increased to 163.4% in Q2, up from 162.1% in Q1. The showing snapped the streak of two consecutive quarterly declines, but in level terms, the ratio has stabilized over the past year. 
  • The National Household Survey (NHS) release confirmed what we had previously observed only anecdotally – one-quarter of Canadians devote more than 30% of their total income to shelter costs, surpassing the threshold at which housing becomes unaffordable. 

Romy Alegria | Manager, MMS | TD Canada Trust
P: 416.278.2540 | F: 1-866.222.5708

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