• Home Buying Changes in Canada: How New Rules Impact You

  • Sep 17 2024
  • Length: 8 mins
  • Podcast

Home Buying Changes in Canada: How New Rules Impact You

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  • Summary

  • In this episode of Make Money Count, we break down the latest announcement from Canada’s Minister of Finance about significant changes in home-buying rules. We discuss:

    • The increase of the maximum insurable purchase price from $1 million to $1.5 million, making it easier to buy a home with less than 20% down.
    • The introduction of 30-year amortizations for first-time buyers and newly built homes, lowering monthly payments but increasing total interest paid.
    • How these changes may impact future interest rate cuts and housing market activity.
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