Federal budget: First-time home buyers will get a break

First-time home buyers will get a break under the latest federal budget. A series of measures are proposed in the budget, including a repayable incentive from Canada Mortgage and Housing Corporation that would lower the total mortgage amount for first-time buyers. That amount would be less for buyers of re-sale homes than for those buying new homes. Other measures include an increase to the amount buyers can borrow from their RRSPs for purchasing a home. The budget also offers incentives to increase energy efficiency, including support for new hot water systems and rooftop solar panels. Some economists say the budget could actually drive up housing prices in Canada. Full story

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