Refinancing to Use the Equity in Your Home

You've been building equity in your home since the first day you bought it. Now, thanks to your hard work and commitment, you can start taking advantage of that equity to save money and increase your financial flexibility.
Reducing your overall debt is a smart financial goal. One way to restructure and consolidate debt is to take out a second mortgage or a home equity loan on your home. You can end up saving a significant amount in interest by refinancing your home.
It also makes good financial sense to balance future needs with immediate ones.
You can use your home equity to:

  • Renovate your home
  • Take a vacation
  • Purchase a vehicle or recreational property
  • Take advantage of investment opportunities
Below is a look at what the current interest rates are for Canada.