{"id":38174,"date":"2019-01-28T11:45:45","date_gmt":"2019-01-28T16:45:45","guid":{"rendered":"https:\/\/www.northeastmortgages.ca\/?p=38174"},"modified":"2021-02-06T01:36:00","modified_gmt":"2021-02-06T00:36:00","slug":"government-promises-help-for-millennial-home-buyers-and-big-banks-cut-lending-rate","status":"publish","type":"post","link":"https:\/\/www.nordest.ca\/blogue\/en\/government-promises-help-for-millennial-home-buyers-and-big-banks-cut-lending-rate\/","title":{"rendered":"Government promises help for millennial home buyers and big banks cut lending rate"},"content":{"rendered":"

The federal government is looking for new ways to help millennials get into the housing market, the finance minister said this week.<\/span><\/span><\/span><\/p>\n

Bill Morneau told a business audience just outside Toronto that one of the planks of his upcoming budget will be assistance for younger buyers looking to get into the market, <\/span><\/span><\/span>according to a Canadian Press report<\/span><\/span><\/span><\/a> .<\/span><\/span><\/span><\/p>\n

\u201cThe middle part – the big middle part – is the affordable housing for millennials,\u201d Morneau said in the speech. <\/span>\u201cThat’s a real challenge and there’s multiple things we’re looking at in order to think about how we can help in that regard.\u201d<\/span><\/span><\/span><\/p>\n

While he emphasized the possible coming measures, he didn’t elaborate on what they might be.<\/span><\/span><\/span><\/p>\n

In the party’s platform, the Liberal Party had indicated they would expand the Home Buyers’ Plan, but haven’t taken any action on that front. <\/span>The HBP allows first-time buyers to use up to $ 25,000 of their RRSPs towards a home purchase. <\/span>Only about half of millennials know RRSP savings can be used for a home purchase a recent poll suggests, <\/span><\/span><\/span>according to another CP report<\/span><\/span><\/span><\/a> .<\/span><\/span><\/span><\/p>\n

The comments came in the middle of a speech were the minister also touted the government’s other housing initiatives to cool the housing market and improve the supply, the CP report said.<\/span><\/span><\/span><\/p>\n

At the same time this week, the big banks cut their five-year lending rate for fixed-rate mortgages.<\/span><\/span><\/span><\/p>\n

Royal Bank of Canada was the first to cut the rate by 15 basis points to 3.74% from 3.89%. <\/span>Toronto-Dominion and the Bank of Montreal soon followed.<\/span><\/span><\/span><\/p>\n

info@nordest.ca<\/span><\/span><\/span><\/span><\/a><\/p>\n

Photo:\u00a0 <\/span><\/span>rawpixel<\/span><\/span><\/a> \u00a0\/\u00a0 <\/span><\/span>Unsplash<\/span><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The federal government is looking for new ways to help millennials get into the housing market, the finance minister said […]<\/p>\n","protected":false},"author":3,"featured_media":38175,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46,17,11],"tags":[],"featured_image_urls":{"full":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0.jpg",1011,711,false],"thumbnail":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0-150x150.jpg",150,150,true],"medium":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0-300x211.jpg",300,211,true],"medium_large":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0-768x540.jpg",768,540,true],"large":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0.jpg",1011,711,false],"1536x1536":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0.jpg",1011,711,false],"2048x2048":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0.jpg",1011,711,false],"post-thumbnail":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0-150x105.jpg",150,105,true],"melissa-img-706-471":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0-670x471.jpg",670,471,true],"melissa-img-706-auto":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0-706x497.jpg",706,497,true],"melissa-img-1200-auto":["https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0.jpg",1011,711,false]},"post_excerpt_stackable":"

The federal government is looking for new ways to help millennials get into the housing market, the finance minister said this week. Bill Morneau told a business audience just outside Toronto that one of the planks of his upcoming budget will be assistance for younger buyers looking to get into the market, according to a Canadian Press report . \u201cThe middle part – the big middle part – is the affordable housing for millennials,\u201d Morneau said in the speech. \u201cThat’s a real challenge and there’s multiple things we’re looking at in order to think about how we can help in…<\/p>\n","category_list":"Credit<\/a>, Down Payment<\/a>, Mortgage<\/a>","author_info":{"name":"North East Mortgages","url":"https:\/\/www.nordest.ca\/blogue\/en\/author\/delmar\/"},"comments_num":"0 comments","yoast_head":"\nGovernment promises help for millennial home buyers and big banks cut lending rate - Blog sur l'immobilier et les pr\u00eats hypoth\u00e9caires- Nordest.ca<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nordest.ca\/blogue\/en\/government-promises-help-for-millennial-home-buyers-and-big-banks-cut-lending-rate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government promises help for millennial home buyers and big banks cut lending rate\" \/>\n<meta property=\"og:description\" content=\"The federal government is looking for new ways to help millennials get into the housing market, the finance minister said […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.nordest.ca\/blogue\/en\/government-promises-help-for-millennial-home-buyers-and-big-banks-cut-lending-rate\/\" \/>\n<meta property=\"og:site_name\" content=\"Blog sur l'immobilier et les pr\u00eats hypoth\u00e9caires- Nordest.ca\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NorthEastNordEst\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-28T16:45:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-06T00:36:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.nordest.ca\/blogue\/wp-content\/uploads\/2019\/01\/photo-1535450117817-f24e366873b0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1011\" \/>\n\t<meta property=\"og:image:height\" content=\"711\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"North East Mortgages\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NorthEastFirm\" \/>\n<meta name=\"twitter:site\" content=\"@NorthEastFirm\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"North East Mortgages\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.nordest.ca\/blogue\/en\/government-promises-help-for-millennial-home-buyers-and-big-banks-cut-lending-rate\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.nordest.ca\/blogue\/en\/government-promises-help-for-millennial-home-buyers-and-big-banks-cut-lending-rate\/\"},\"author\":{\"name\":\"North East Mortgages\",\"@id\":\"https:\/\/www.nordest.ca\/blogue\/#\/schema\/person\/197a13e6e0b00c4673712ba9d37d309a\"},\"headline\":\"Government promises help for millennial home buyers and big banks cut lending rate\",\"datePublished\":\"2019-01-28T16:45:45+00:00\",\"dateModified\":\"2021-02-06T00:36:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.nordest.ca\/blogue\/en\/government-promises-help-for-millennial-home-buyers-and-big-banks-cut-lending-rate\/\"},\"wordCount\":272,\"publisher\":{\"@id\":\"https:\/\/www.nordest.ca\/blogue\/#organization\"},\"articleSection\":[\"Credit\",\"Down Payment\",\"Mortgage\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.nordest.ca\/blogue\/en\/government-promises-help-for-millennial-home-buyers-and-big-banks-cut-lending-rate\/\",\"url\":\"https:\/\/www.nordest.ca\/blogue\/en\/government-promises-help-for-millennial-home-buyers-and-big-banks-cut-lending-rate\/\",\"name\":\"Government promises help for millennial home buyers and big banks cut lending rate - 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