Canada’s Housing Minister Sean Fraser announced on Thursday that the federal government is increasing the withdrawal limit for Canadians pulling money from their RRSP to put toward a new home under the First Home Buyers’ Plan. It’s part of a handful of changes he announced, including changes to the amortization on mortgages for first-time homebuyers.
- 30-year amortizations will only impact a ‘sliver’ of the housing market: BMO
- Ottawa changing RRSP Home Buyers’ Plan, some mortgage amortization rules