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Is it smart to get a HELOC ?

A HELOC is a low-cost borrowing option (compared to unsecured debt and credit cards) since itu2019s secured against your home.HELOCs are quite popular among Canadian homeowners. Despite interest rates rising, HELOCs remain popular. HELOC balances have been growing at twice the rate of mortgages, according to a report by the CMHC.

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Heloc rates work - PowerPoint PPT Presentation

Is it smart to get a HELOC ?