As I understand it, in October 2008 the government introduced the first set of criteria for government-backed insured mortgages, and that announcement in October 2008 established 35 years as the maximum amortization.
Director, Financial Institutions Division, Financial Sector Policy Branch, Department of Finance
As I understand it, in October 2008 the government introduced the first set of criteria for government-backed insured mortgages, and that announcement in October 2008 established 35 years as the maximum amortization.
See context to find out what was said next.