Beginning March 18th, buyers will no longer be able to amortize their mortgages over 35 years. The maximum will now be 30 years. This is in response to concerns that Canadians are getting too deeply in debt and could run in to trouble if something unexpected happens (i.e. job loss, rate hike, etc). My main concern with the longer amortizations has been the huge amount of additional interest on their mortgages that buyers pay over the length of their mortgage. Shorter amortizations will mean higher monthly payments or lower mortgage qualification limits for buyers, but considering mortgage rates continue to be very low, it remains a great time to get into the market.