As of March 18th, 2011 – The rules for maximum amortization change from 35 – 30 years.

• This only affects high ratio deals
• This does not affect you when putting 20% or greater down payment
• If you have a firm deal (subjects removed) on or before March 17th, this does not affect you
• You can even switch lenders or mortgage brokers after March 18th
• Just don’t alter the mortgage and return to the original insurer (CMHC, Genworth, etc)