Canadian Finance Minister Chrystia Freeland announced significant changes to mortgage rules aimed at improving housing affordability, a pressing issue for the Trudeau government as it faces declining approval ratings. Effective December 15, the cap for insured mortgages will increase from C$1 million to C$1.5 million, allowing more Canadians to qualify for loans with a minimum 5% down payment. Additionally, the availability of 30-year mortgages will be extended to all first-time buyers and those purchasing newly built homes, intended to stimulate new construction and address supply shortages. Critics warn that these reforms could exacerbate rising housing prices and increase household debt, as Canada already has the highest debt levels among G7 nations. Analysts have expressed concerns that these measures may inadvertently fuel the housing market rather than stabilize it. Despite these challenges, the government remains focused on improving homeownership opportunities for younger Canadians.