Billions to Be Announced for Housing Construction in Federal Fiscal Update

The fall fiscal update, to be presented Tuesday by the federal finance minister, will include billions of dollars in loans and direct funding for the construction of affordable housing, a senior government source has told CBC News.

New measures will include $15 billion for 10-year loans for new rental housing construction, a $1-billion fund dedicated to getting more affordable housing built, and new mortgage rules for lenders dealing with homeowners at risk, according to the source, who is not authorized to speak publicly about the fall economic statement before it is tabled.

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