You should not set the aspect ration within the callback, but instead do so once after window creation. The aspect ration is remembered by GLFW and does not need to be refreshed.
/* Create a windowed mode window and its OpenGL context */
/* Create with the same aspect ratio you intend to set, here 16/9 */
window = glfwCreateWindow(1280, 720, "Hello World", NULL, NULL);
if (!window)
{
glfwTerminate();
return -1;
}
/* Set the aspect ratio once */
glfwSetWindowAspectRatio( window, 16, 9 );