The National Post reports in its Tuesday edition that Finance Minister Chrystia Freeland announced Monday that Canadians will soon be able to borrow for longer and will have the opportunity to secure larger insured mortgages, potentially providing buyers with more purchasing power in the housing market. The Post's Ryan Tumilty writes that starting on Dec. 15, the cap for insured mortgages will increase to $1.5-million from $1-million. This change will enable buyers to qualify for larger mortgages without needing to put down 20 per cent. Additionally, the government will expand the availability of 30-year mortgages. In the spring budget, the eligibility for these long-term mortgages was extended to new buyers purchasing new builds. In December, this 30-year availability will apply to both new buyers and those purchasing new construction homes. Ms. Freeland highlighted that these changes aim to empower first-time home buyers and provide them with an advantage in the market. She emphasized that the goal is to make the dream of home ownership achievable for younger Canadians and to give first-time buyers a boost in the housing market. The government has committed to building four million homes by the end of the decade.