Long Term Mortgages Catching On

20% of home buyers are taking out 35-year mortgages according to Genworth Financial.  (Source:  Toronto Star, Story Link)

Expect the trend towards mortgages with less down and longer terms to strengthen notably in Canada, as it has in the U.S. 

Note however:  If you get one of these products, MAKE SURE you are disciplined enough to pay down principle as soon as you can.