Mortgage changes: Cheaper entry into housing market at steeper costs

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 103 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 44%
  • Publisher: 99%

المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

Mortgage rule changes allow easier entry into the housing market with lower monthly payments, but also an increased cost of repaying a mortgage.

The Department of Finance said two key changes would be implemented by Dec. 15, 2024:Expanding eligibility for 30-year mortgage amortizations to first-time buyers and buyers of new buildsIt’s a move that would lower the barrier to entry into the housing market and drop monthly payments — but also one that would increase the overall cost of repaying a mortgage for those taking advantage of the relaxed requirements.

Previously, for those with down payments less than 20 per cent, the maximum allowed amortization was 25 years. Under the government’s new plan, first-time home buyers and those purchasing a new build qualify for a 30-year amortization without needing to meet that 20 per cent threshold.But while monthly costs decrease, the overall cost of repaying a mortgage rises significantly.

More Canadians are installing solar panels on their homes, but some are facing challenges when it comes to getting home insurance after the panels are put in.The federal government has 'no intention' of pausing the next planned increase to the carbon price, Environment Minister Steven Guilbeault confirms.

Missouri executes Marcellus Williams for 1998 killing of a woman despite her family's calls to spare his life It started with an informal pick-up game. Now, this organized soccer club is a lifeline for many asylum-seekers American gymnast Jordan Chiles’s legal team has submitted a new application in the Federal Supreme Court of Switzerland over the decision that led to her losing an Olympic bronze medal, pointing toward new video evidence that Chiles’s lawyers say proves her case.The Canada Border Services Agency reported this week that officers in the agency's Montreal Marine and Rail Services seized 78 vehicles and transferred them to police. Numbers of stolen vehicles in Quebec continue to skyrocket.

A veteran Montreal police officer says racism is a 'cancer eating away at the organization' in a stinging resignation letter.The heat is rising for Quebec Premier François Legault as opposition parties demand answers about his government's investment in the planned Northvolt battery factory near Montreal.Quebec's language watchdog received a record number of complaints from citizens last year and carried out an increasing number of inspections on employers.

Saskatchewan's police watchdog investigating fatal officer-involved shooting on Fishing Lake First Nation

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 1. in SA

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين