Canadians Can Get 30-Year Mortgages Beginning Aug. 1

Published on July 31, 2024

Canadians will be able to stretch mortgages out for 30 years starting next month, a move the federal government says will reduce monthly costs and get more first-time buyers into the market. Finance Minister Chrystia Freeland announced the 30-year mortgage during budget time in April, saying the new mortgage amortization would be available on Aug. 1. Freeland said the move is directed at giving younger Canadians hope of homeownership. “One of the biggest hurdles to homeownership for younger Canadians is qualifying for a mortgage and affording the monthly payments,” she said in a July 29 news release. “That is why, starting Aug. 1, first-time buyers of new builds will be able to reduce their monthly payments with up to 30-year mortgages.”...

Continue reading on website
Other news

Government Doubles Net Zero Renewables Budget

July 31, 2024
The government has announced it doubling its net zero renewables budget to a record £1.5 billion, its largest-ever investment.On Wednesday, Energy Secretary Ed Miliband announced that the renewable energy auction budget will be increased to £1.5 billion, up by £500 million from last year.The costs will come out of energy bills and not general taxation.The government said that funding is necessary

Judge Strikes Down New Jersey’s AR-15 Prohibition, Upholds Ban on Large Capacity Magazines

July 31, 2024
A federal judge has ruled that New Jersey’s AR-15 ban is unconstitutional, although he refused to extend this determination to other firearms subject to the prohibition. He also upheld the state’s restrictions on large-capacity magazines.U.S. District Judge Peter G. Sheridan issued an order on July 30 declaring that including the Colt AR-15 rifle on the list of firearms defined in the New Jersey C