Home Buying Changes in Canada: How New Rules Impact You

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.