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online payday loan The credit ratings agency’s scenarios anticipate some people with mortgages falling behind on payments, particularly in oil producing provinces where the economic shock including fallout from efforts to contain the spread of COVID 19 would be greater. However, house price declines are expected to be sharper in cities such as Toronto where there has been a “significant run up in prices in recent years.”Article content The ratings agency said it was not forecasting, but rather establishing benchmarks of moderate and “adverse” scenarios on which to base its debt rating analysis.The scenarios are to be reviewed and updated by the end of May, according to, a senior vice president at DBRS Morningstar.”It is certainly possible that the outcomes end up being better than the moderate scenario or worse than the adverse,” Heydt said in an email.All 10 Canadian provinces would experience sharp recessions in 2020 even in the moderate scenario. Alberta, Saskatchewan, and Newfoundland and Labrador are projected to suffer the largest declines in GDP due to the added impact of low oil prices.In crafting the scenarios, DBRS analysts looked at home sales in March, which fell 14 per cent from the previous month as more than three million Canadians either lost their jobs or worked fewer hours.online payday loan

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