Property Renovations

There is a lot less cash being borrowed for property renovations compared with recent all-time peaks according to the Bank of Canada.

A recent peak of $3.61 billion was hit in 2nd Quarter of 2016, and the most recent quarter is down 17.79% from there. The balance is also down 42.25% from the all-time high peak of $5.14 billion hit in 3rd Quarter of 2009.

SOURCE: https://betterdwelling.com/flip-or-flop-canadian-real-estate-renovation-loans-down-over-40-from-peak