Trudeau says news on mortgages is coming in federal budget
BNN Bloomberg
Prime Minister Justin Trudeau said his government will have news to announce on mortgages in Canada in the upcoming April 16 budget, but did not provide further details.
Canada forbids homebuyers from taking out insured mortgages with amortization periods of longer than 25 years. At a news conference Friday, Trudeau was asked whether his government would extend the limit to 30 years or more — a measure that would ease monthly payments and help some buyers who are currently shut out of the market.
The prime minister wouldn’t comment directly on that, but said: “On mortgages we will have more to say between now and the budget date on April 16, and perhaps we will save it for April 16.”
Trudeau, who’s under significant political pressure over the country’s housing shortage, has been making a series of pre-budget announcements aimed at easing concerns over housing costs. Many have been focused on improving the cost and availability of rental housing.
