Canada's federal government is relaxing some mortgage rules in a bid to stimulate the housing market. While experts predict these changes will help increase demand, they emphasize the need for policies focused on boosting new home construction to address the core supply issues.
One expert predicts Ottawa's changes to mortgage rules will help spur demand among potential homebuyers but says policies aimed at driving new supply are needed to address the "core issues" facing the market.
The government will also expand its 30-year mortgage amortization to include first-time homebuyers buying any type of home, as well as anybody buying a newly built home.
Housing Market Mortgage Rules Canada Supply Demand First-Time Homebuyers
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