secondary suites Archives - Mortgage Rates & Mortgage Broker News in Canada

B.C. shuts door on secondary-suite incentive program over ‘uncertain financial times’

March 19, 2025 No Comments

The British Columbia government says it is cancelling an incentive program meant to entice more homeowners to build secondary suites, saying the decision is “due to uncertain financial times.”

Lenders slow to roll out secondary suit refinancing program

Big banks slow to roll out secondary suite refinancing program despite January 15 launch

January 31, 2025 3 Comments

Canadian Mortgage Trends has learned that only a few major lenders are currently accepting applications for the federal government’s secondary suite refinancing program.

Questions surrounding the secondary suites refinance program

Questions linger over the government’s new secondary suite refinancing program

January 24, 2025 No Comments

The federal government’s launch of the Secondary Suite Refinance Program on January 15 was largely met with optimism, but some brokers note that questions remain.

Housing initiatives take centre stage in Fall Economic Statement amid political turmoil

December 16, 2024 No Comments

It was a dramatic day in Ottawa as Finance Minister Chrystia Freeland resigned from cabinet just hours before she was scheduled to deliver the government’s Fall Economic Statement (FES).

New mortgage rules take effect today; more may be coming on Monday, economist says

December 14, 2024 No Comments

Two sweeping mortgage reforms take effect today, December 15, targeting housing affordability and easing financial pressures—changes that may be followed by more announcements this week.

Canada’s Secondary Suite Loan Program expands to $80,000 loans with 2% over 15 years

December 10, 2024 15 Comments

The federal government today announced a doubling of its Secondary Suite Loan Program, which was originally unveiled in the April 2024 budget.

Pros and cons of the new federal secondary suite programs

October 28, 2024 9 Comments

Comparing two federal programs to help Canadians build rental suites: a $40,000 loan or a mortgage refinance option

Mortgage industry weighs in on federal secondary suite refinance program

October 16, 2024 3 Comments

Industry professionals express cautious optimism but call for more clarity on the program’s specifics

Government secondary suites refinancing announcement

Feds launch mortgage refinancing program to boost secondary suites and ease housing crunch

October 8, 2024 28 Comments

The federal government is rolling out another set of mortgage changes aimed at addressing the housing shortage, this time focusing on supporting the construction of secondary suites.

secondary suites