Canada to Allow 30 Year Mortgages for First Time Homebuyers

The Canadian Government is making some changes to mortgage rules to help with housing affordability in the real estate markets across Canada.
Finance Minister Chrystia Freeland announced the federal government will allow 30 year amortization periods on insured mortgages for first time homebuyers on newly built homes.
In this video we discuss what impact this will have on major real estate markets like Toronto & Vancouver as well as other markets across Canada.
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[@7966016]

Not much impact at all, just as you stated the risk of 30 year mortgages on people who already cant qualify are extremely risky! Might make a bit of a difference in places like Saskatchewan or Manitoba where homes are a lot cheaper! Great video!