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TORONTO, Oct. 27, 2020 /CNW/ - Today, Mortgage Professionals Canada (MPC) released its latest housing market report exploring if and how COVID-19 is affecting consumer sentiments towards housing and mortgages. The data suggests that consumers' attitudes on homeownership during the pandemic have changed very little since MPC first polled Canadians three months ago. The third installment of Rapidly Evolving Expectations in the Housing Industry [ 582 more words ] https://www.thefinancialcommerce.com/covid-19-has-minimal-/

On the heels of a devastating decline in the Canadian economy, the Bank of Canada is taking unprecedented actions. With record job losses, plunging confidence and a shutdown of most businesses, this month's newly released Monetary Policy Report (MPR) is a portrait of extreme financial stress and a sharp and sudden contraction across the globe. COVID-19 and the collapse in oil prices are having a never-before-seen economic impact and policy response. [ 919 more words ] https://www.thefinancialcommerce.com/bank-of-canada-stands/

Data released this morning from the Canadian Real Estate Association (CREA) showed national home sales fell 14.3% on a month-over-month (m-o-m) basis in March, the first national indication of the early impact of social isolation. The economic disruption and massive layoffs caused both buyers and sellers to increasingly retreat to the sidelines over the second half of the month. Transactions were down on a m-o-m basis in the vast majority of local markets last month. [ 823 more words ] https://www.thefinancialcommerce.com/housing-market-anothe/

Employment in Canada collapsed in March, with over one million jobs lost, wiping away over three years of job creation in a single month and highlighting the economic pain the coronavirus pandemic has swiftly delivered. The decline in jobs in Canada, on a proportional basis, was steeper than in the U.S. The record plunge was anticipated after officials here revealed that in the span of roughly a month, 5 million people, about 20% of the country's labour force, have applied for emergency income support. [ 1,260 more word ] https://www.thefinancialcommerce.com/canada-loses-over-a-m/