Increased HELOC use could lead to higher insolvencies: Equifax

Overall consumer debt now stands at $2.15 trillion High mortgage growth and low interest rates have resulted in greater uptake for home equity lines of credit (HELOC) — which could be problematic, warns Equifax Canada. The credit monitoring company’s most recent consumer trend report found new HELOC volume increased by 56.7% in Q2 when compared to the same quarter in 2020. Volume is at its highest in a decade.

Working remotely across the country or outside of Canada? What that means for your taxes – National |

As provinces try to reopen their economies across the country and ease into the process allowing some businesses to bring back employees to the workplace, one unintended consequence of the COVID-19 pandemic may linger on for the foreseeable future. A vast amount of Canadians sent home to work remotely during the pandemic now prefer to continue to do so in a post-COVID-19 world, and many more businesses intend to allow them