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 Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..