The Finance Department says Flaherty is scheduled to hold a news conference on Thursday at 8:15 a.m. (1215 GMT). 3 a- u. J1 Z' t: j5 U* g8 N$ e2 [6 [: Z: s/ V& t1 R+ q* F- L) K
A government official, who spoke on condition of anonymity, said the government will reduce the maximum amortization period of a mortgage to 25 years from 30 years, and lower the level of home equity that can be borrowed against to 80 percent from 85 percent.. P; a3 X: k N; p# w" }! v; @( \4 ~