Home Buying Changes in Canada: How New Rules Impact You -...

What this episode covers

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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How long is this episode of Make Money Count?

This episode is 8 minutes long.

When was this Make Money Count episode published?

This episode was published on September 17, 2024.

What is this episode about?

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...

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