MACKEY & McCORMICK - Facts & Figures July 2024

30-year amortizations on insured mortgages for new build homes now available for first-time buyers

First-time buyers of new construction homes in Canada will now be able to access longer mortgage amortization periods. As of August 1st, 2024, lenders will be allowed to offer 30-year amortizations for insured mortgages to first-time homebuyers of new construction homes, a measure modified by the federal government.

Read the full report here.

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