In Toronto, average SFH cost is now $950k, amortization period is 25 years, with most common mortgage term of 5 years, and yet the houses get snapped in less then 26 days on market, while year over year price increase is 10%.

It seems like real estate prices are increasing rapidly in every major city around the world. I hear the same story from London, Sydney, SF etc.

BTW, I would take that 50 year and 30 year fixed mortgage term any day. 30 year fixed at 4.4% seems like extremely good offer from this side of the fence.