New Mortgage Rules Expand Homebuying Options for First-Time Buyers Across Canada

September 16, 2024

The federal government’s recent decision to raise the cap on insured mortgages from $1 million to $1.5 million and expand access to 30-year amortizations is poised to make a significant impact on first-time homebuyers. Effective December 15, 2024, these changes aim to give more Canadians the ability to purchase homes that may have previously been out of reach—particularly in today’s high-priced housing markets.

But what do these new rules mean for first-time buyers, and how much will they impact your buying power?

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. All information on LondonHomePrices.ca is presented by realtor Andres Usma from Blue Forest Realty Inc., Brokerage in London, Ontario.

Andres Usma | Realtor
Direct : 519-200-1911

LINKS

BLUE FOREST REALTY INC.
Independently Owned & Operated
931 Oxford St. E. London, ON

mls realtor

New Mortgage Rules Expand Homebuying Options for First-Time Buyers Across Canada

Properties Listed Today view all

$279,911

$595,000

$359,000

$659,000

$520,000

$940,000

$399,900

$449,900

$379,000

$2,495,000

$425,500

$499,900