Canada's Mortgage Industry Welcomes Federal Budget Announcements

 

Canada's Mortgage Industry Welcomes Federal Budget Announcements

Earlier today, federal Finance Minister Jim Flaherty tabled the federal budget. Several measures affect Canada's housing and mortgage industry.

Temporary home renovations tax credit of up to $1,350 for eligible home renovations and alterations

Increase in the home buyers RSP plan, withdrawal limit increased to $25,000 from the current $20,000

A new first time home buyers tax credit that will provide up to $750 in tax relief for closing costs

Broad based personal tax reductions including an increase in the personal exemption and increases to the limits for the two lowest tax brackets

The Government also bought tens of millions of dollars worth of existing mortgage paper from the banks, freeing up more capital for lending.

Robert May is a Realtor, as well as the broker and owner of Rainbow Realty of Lethbridge Alberta. He is also a licensed mortgage associate and financing expert with Canada First Mortgage of Calgary Alberta. He has been in the real estate industry since 1993 and offers full MLS real estate services to Lethbridge and surrounding area, as well as mortgage financing, refinancing/renewals, preapprovals, and home equity financing to Lethbridge and Southern Alberta. He can be found online at www.LethbridgeLoans.com

Let me share my 15 years experience in the local Lethbridge real estate and financing market with you! It is the first step towards making a profitable real estate decision.

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