The Finance Department says Flaherty is scheduled to hold a news conference on Thursday at 8:15 a.m. (1215 GMT). ( o9 Q: X& t, Z% c2 i3 T+ P+ H" q# X6 j: m; }5 B/ Z
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. 4 i, p& R J6 Y; t