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- New mortgage rules in Canada allow for lower down payments on homes up to $1.5 million, easing entry into the housing market in high-cost cities like Toronto and Vancouver.
- The government also extends amortization periods to 30 years, reducing monthly payments but increasing overall mortgage interest costs.
- These changes benefit first-time buyers but result in higher long-term expenses.
Mortgage Changes Offer Lower Entry Costs but Increase Long-Term Financial Burden
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