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30 Year Amortizations & $1.5M CMHC Mortgages


The Canadian Federal government announced two major changes to mortgage lending in the hopes to open the home ownership door to more Canadians. The first being, to increase CMHC insurable loans on a maximum home purchase of $999,999 to $1,500,000 and the second being extending 30 year amortizations to all qualifying homeowners.

In today’s video, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty discusses how these two changes will impact the real estate market, who it will help and whether either of these changes will improve affordability and the Canadian housing crisis.

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