RRSP Home Buyers Plan & Amortization Rules

Last week we saw a number of announcements in the mortgage industry to help make housing more affordable. The top 2 were..As of April 16 homebuyers are able to draw down as much as $60,000 and in increase from the previous limit of $35,000. The second change is the government will allow 30 year mortgage amortizations for first-time home buyers purchasing newly built homes, effective August 1, 2024.