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Canada’s 2024 federal budget mentioned exploring halal mortgages, sparking some to claim the home financing plans would offer unfair advantages to Muslim buyers in the tight housing market. This is misleading; the loans, which do not charge traditional interest, are open to people of any faith and have fees comparable to the cost of paying conventional mortgages.
“It appears that our government is going to try to facilitate interest free mortgages through the nation’s 5 major financial institutions for Muslim immigrants coming to Canada,” says an April 17, 2024 Facebook post.
Other posts across Facebook, Instagram, X and TikTok claim the halal mortgages would only be available to Muslim home-buyers.
Screenshot of a Facebook post taken April 26, 2024
Screenshot of an X post taken April 26, 2024
The posts come amid rising…
