The Canadian Press: Homebuilders group pushing for 30-year mortgages to boost construction in Canada
The group that represents residential builders in Canada wants Ottawa to offer a 30-year amortization period for insured mortgages on new homes. The Canadian Home Builders' Association says extending the period an additional five years would help with affordability and spur more construction. The move would bring more first-time homebuyers into the market, in turn encouraging developers to build more homes, association CEO Kevin Lee told a news conference Thursday.
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