Written by 12:56 PM General • One Comment Views: 0

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.

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Last modified: October 17, 2006

Robert McLister is one of Canada’s best-known mortgage experts. A mortgage columnist for The Globe and Mail, interest rate analyst and editor of MortgageLogic.news, Rob has been covering Canada's mortgage market since 2007.