How Mortgage Applications Have Changed During COVID-19
byLenders are looking a lot more closely right now.
Business
All the business news you need to know in the GTA.
Shopify Closes Offices Until 2021 With Most Employees to Work Remotely Afterwards
by“Office centricity is over.”
Canada’s Mortgage Stress Test Good in Theory, But Should Be Better in Practice
byEven with upcoming changes expected to update Canada’s mortgage stress test, it remains an antiquated benchmark for the current market.
Ontario Lost Nearly 690,000 Jobs in April Due to COVID-19
byOntario’s unemployment rate climbed to 11.3% in April — its highest level since June 1993.
Fewer Canadians Seeking Debt Relief During COVID Crisis
byThough consumer insolvencies are expected to spike in the wake of the pandemic.
Nearly 2 Million Canadians Lose Their Jobs in April, Unemployment Rate Rises to 13%
byToronto has lost more than half a million jobs since February.
Sidewalk Labs Pulling Out of Toronto’s Quayside Project
byDue to “unprecedented economic uncertainty” setting “in around the world and in the Toronto real estate market.”
Latest March Data Captures Devastating Impact of COVID-19 on Canadian Businesses
byNearly half of Canadian employers laid off 80% or more of their employees in March.
More Than 1/3 of Canadian Workers Worried They’ll Lose Their Job in April
byMillions of Canadians already lost their jobs in March.
Canada’s GDP shrinks 9% in March
byThe largest one-month decline in 60 years.
