The most common term length in Canada is a 5 year mortgage. Five year terms generally have low rates compared to other term lengths. One year terms may have the lowest rates but require renewing every year. 10 year terms have higher interest rates but remain steady and predictable for a very long time. If you believe interest rates will rise, it's a good idea to get a longer term to lock in the currently low interest rate. If you think interest rates will fall, then getting a shorter term will allow you to renew sooner at lower interest.
The following are some ways how you can hasten your mortgage repayment.
In order to qualify for 3 free months of credit monitoring with Credit+, you'll have to sign up for an annual plan.
After registering for an annual plan, you'll be credited with 15 months instead of 12.