Your mortgage interest rate can either be Fixed for the term or Variable (which changes with the prime rate). The Rate Term is the contract length with a lender.
Amortization is the total time it takes to pay off your mortgage in full. New mortgages usually start with an amortization of 25 years or 30 years in Canada.
Amortization
25 years 0 months
Pay your mortgage faster
Increasing your mortgage payments or paying a lump sum towards your principal have a huge impact. You'll pay off your mortgage much sooner and save tons of interest.