There were new rules announced by the federal government this month abnd they are as follows:
1/ CMHC will no longer insure 35 year amortization - the maximum will be 30 years. If you already have a 35 or 40 year amortization you will be able to renew without changing the amortization.
2/ To refinance your existing home you must retain a minimum of 15% equity. The previous minimum was 10%.