"Buying a first home is about to get a little bit easier, according to the federal government. On September 16, 2024, the Liberals announced significant mortgage reforms, aimed at making home ownership more affordable and within reach for younger generations.
Liberal Finance Minister Chrystia Freeland announced two changes to Canada’s mortgage rules:
Increasing the $1 million price cap for insured mortgages to $1.5 million. Previously, any house over $1 million was not eligible for mortgage default insurance and therefore required a 20% minimum downpayment.
Expanding eligibility for 30-year mortgage amortizations to all first-time homebuyers and all buyers of new builds. Previously, only first-time home buyers of new builds were eligible for a 30-year amortization.
Both policy changes come into effect on December 15, 2024, and further details will be announced in the coming weeks."
what a joyus day for new buyers - NOT. the banks added more time to pay, not less to pay. banks are pigs.
#piggybank
Mortgage Rates are falling down
falling down, falling down.
Mortgage Rates are falling down,
My fair lady.
#londonbridge
#falldown
**IMPORTANT DATE**
Bank Of Canada is meeting again October 23rd to discuss rates. Will they go up, down, or stay the same?
give shanks to every member of your family this year and try not to kill each other before pumpkin pie!!
try not to go psycho over the new lower rates
#codycharlene
#misscharlene
#LMCRealEstateInc
#EdmontonRealtor
#bankofcanadarate
#mortgagerates
