HomeLoansCanada Opens Mortgage Market to 30-Year Loans for Homebuyers
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Canada Opens Mortgage Market to 30-Year Loans for Homebuyers

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Canada will relax the rules on mortgages to allow first-time buyers to take out 30-year loans when they purchase newly built homes.

Bloomberg News

Laura Dhillon Kane and Brian Platt

Published Apr 11, 2024  •  Last updated 24 minutes ago  •  3 minute read

Homes in the West Point Grey neighborhood of Vancouver, British Columbia, Canada, on Tuesday, Dec. 12, 2023. Canadian home prices posted their biggest drop in more than a year as persistently high borrowing costs squeeze potential buyers.
Homes in the West Point Grey neighborhood of Vancouver, British Columbia, Canada, on Tuesday, Dec. 12, 2023. Canadian home prices posted their biggest drop in more than a year as persistently high borrowing costs squeeze potential buyers. Photo by Isabella Falsetti /Bloomberg

(Bloomberg) — Canada will relax the rules on mortgages to allow first-time buyers to take out 30-year loans when they purchase newly built homes. 

The change to regulations on insured mortgages…

Read more at financialpost.com

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