Canada extends 30-year mortgage ammortization for newly-built homes ...Middle East

The Canadian housing market is not looking healthy, particularly the Toronto condo market.The government is reacting with finance minister Chrystia Freeland extending 30-year loan amortization to all first-time home buyers and buyers of newly-built homes, all with CMHC insurance.Canada has gone back-and-forth on 30-year mortgages since the financial crisis.2008: The government reduced the maximum amortization period from 40 years to 35 years.2011: The maximum was further reduced to 30 years for insured mortgages.2012: The maximum amortization period for CMHC-insured mortgages was reduced to 25 years This article was written by Adam Button at www.forexlive.com.

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