The federal government will be making an announcement this morning about the First-Time Home Buyers' Incentive.
Families, Children, and Social Development Minister Jean-Yves Duclos will make the announcement in Mississauga this morning at 9 a.m.
The incentive aims to help first-time home buyers get into the housing market.
The plan was included in the 2019 federal budget, setting aside $1.25 billion over three years for something the budget called 'shared equity mortgage.'
Prospective first time buyers could see Canada's housing agency provide them with an interest-free loan of up to five per cent of the purchase price of an existing home, and up to 10 per cent of the cost of a new home.