CBC News ~ January 3rd, 2025
Interest rate cuts and changes to Canada’s mortgage rules could set the stage for change in the Greater Toronto Area’s real estate market this year, experts say.
Last year the federal government expanded eligibility for 30-year mortgage amortizations to all first-time homebuyers and all purchasers of new builds and also increased the $1 million price cap for insured mortgages to $1.5 million.
That means buyers can purchase a $1.5 million home with less than 20 per cent down.
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