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NHL Highlights - Oilers vs. Canucks - November 9, 2024A 50�50 mortgage, also known as a hybrid mortgage, is a mortgage combining the features of a fixed rate mortgage with the features of a variable rate mortgage. The mortgage term is the length of time your mortgage contract is in effect. Terms may range from just a few months to 5 years or longer. At the. Mortgage terms in Canada typically range from 6 months up to 10 years, with 5 years generally being the most common term selected.