On this episode of Inside Real Estate on Paranych TV, Terry Paranych explains the impact new Mortgage Policies will have on the market and homebuyers. The maximum amortization period for government-backed mortgages was reduced from 30 to 25 years and purchases over $1 million cannot be guaranteed by CMHC. In addition, the amount that homeowners can borrow against the equity in their homes was reduced from 85 to 80 percent.