Canada Extends Mortgage Repayment for First-Time Home Buyers

15 Apr 2024 CW Team

Canada has announced a policy change allowing certain first-time home buyers to extend their mortgage repayment period to 30 years. This initiative aims to ease financial burdens on new homeowners and enhance accessibility to the housing market amidst rising property prices.

The extension of mortgage repayment terms reflects Canada's commitment to addressing affordability challenges in the housing market and supporting aspiring homeowners. By offering longer repayment periods, the government seeks to reduce monthly mortgage payments and improve affordability for first-time buyers.

The policy change is expected to benefit individuals entering the housing market for the first time, providing them with greater flexibility and financial stability. Extending mortgage terms to 30 years can help alleviate pressure on household budgets and make homeownership more attainable for a broader segment of the population.

Canada's decision to extend mortgage repayment for first-time home buyers aligns with global trends aimed at promoting housing affordability and homeownership opportunities. By adapting mortgage regulations to meet evolving needs, Canada aims to foster a more inclusive and sustainable housing market.

Aspiring homeowners in Canada can look forward to greater flexibility in mortgage repayment, thanks to the government's proactive measures to support first-time buyers. The extension of mortgage terms represents a positive step towards achieving housing affordability and ensuring broader access to homeownership for Canadians.

Infrastructure Urban

10 Mar 2026

Saini Unveils Haryana Agri Discom And Police Quota

Haryana Chief Minister Nayab Singh Saini presented the state budget and proposed a new power distribution company, Haryana Agri Discom, to supply electricity to all 5,084 agricultural feeders and 0.712 million (mn) farm consumers. The measure is intended to ensure uninterrupted power supply to farms and to streamline agricultural electricity distribution. The proposal formed a central plank of the presentation. The budget provided for 20 per cent reservation in Haryana Police recruitment for Agniveers who complete service in the Indian Army and proposed recruitment of 1,300 Agniveers next year..

Vidyut Sakhis Recover Rs 6,570 mn In UP Arrears In 90 Days

More than 15,000 trained Vidyut Sakhis helped collect about Rs 6,570 mn in outstanding electricity bills in Uttar Pradesh under a One Time Settlement initiative of the Uttar Pradesh Power Corporation Limited (UPPCL) between December 2025 and February 2026. The campaign settled nearly 1.775 mn pending bills and focused on recovering long standing arrears while facilitating easier payment access. Officials overseeing the programme reported the consolidated figures and credited the decentralised collection model for results. The Vidyut Sakhis are women trained under the Uttar Pradesh State Rural ..

Railway Safety Chief Garg To Meet CMRL Officials Ahead Of MRTS Launch

The Chief Commissioner of Railway Safety (CCRS), Janak Kumar Garg, is scheduled to carry out a statutory inspection and speed test of the newly constructed Mass Rapid Transit System (MRTS) stretch between Velachery and St Thomas Mount on Thursday. The visit is expected to precede decisions on commissioning and commercial operations for the route that is intended to strengthen public transport links in the city. Officials indicated that Mr Garg is likely to hold meetings with Chennai Metro Rail Limited (CMRL) representatives during the visit to finalise operational details. The CCRS, who previo..