3 Canadian Real Estate News Headlines You Shouldn't Miss Today (September 4th 2019)
Hello everyone. How are you?
I provide you with Canada’s news headlines for real estate news for today.
Canadian Mortgage Growth Picks Up, But Is Still The Slowest In Over 20 Years
Canadians are taking out mortgage debt, but at an unusually slow pace these days. Bank of Canada(BoC) data shows outstanding mortgage credit reached a new high in July. Mortgage growth is improving compared to previous months. However, this past July was still the slowest rate of growth for the month in over two decades.
Ottawa’s homebuyer plan not a big help in Canada’s pricey markets
Canadian Prime Minister Justin Trudeau wants to make housing more affordable for first-time buyers. His efforts may be of little help to people in the country’s priciest cities.
The national housing agency aims to spend up to $1.25 billion over three years subsidizing down payments for new lower- to middle-income buyers. Under the program, launched Monday, the government will pay up to 10 per cent of the purchase price in exchange for a stake in the home that would be paid back once it’s sold.
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