/CNW/ - Every Canadian deserves a safe and affordable place to call home. That is why the Government of Canada has created the 5-year, $300 million Housing.
With a 10% down payment, that house in january when the average mortgage rate was 3.75% would mean a monthly mortgage of about $1,771. with an average interest rate of 5.3%, according to forbes, that payment was now going up to $2,124. it hurts for people. so what do you say to someone who has been saving to put a down payment on a house and are interest rate hikes the only prescription for cooling inflation? the housing supply challenge we have in the country goes back to the great recession and the financial downturn. and the president has been focused on trying to increase housing supply. some of this will need to be in concert with congress. some of it he s taking administrative actions to get moren units on the market. his proposal in the budget would put a million more units over the next five years and close
COVID-19 has highlighted housing shortages in some northern First Nations in Manitoba just as the federal government announced funding for proposed solutions to the issue.
Funding to go toward helping communities overcome supply challenges, harsh climate, short construction season
The federal government announced up to $80 million in funding to address housing supply chain issues in northern and remote communities.
Ahmed Hussen, federal minister of housing and div