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Canada Warned About Coronavirus-Induced Mortgage Arrears

OTTAWA—The head of Canada’s state-owned house loan insurance company warns the cash flow shock from the coronavirus pandemic could go away a fifth of all the country’s mortgages in arrears.

Evan Siddall, main govt of Canada Mortgage and Housing Corp., additional the insurance company now forecasts the regular property value will tumble nine% to eighteen% in the coming 12 months, and will not absolutely rebound right up until 2022.


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