Q: Is there anyone that offers a five year fixed mortgage? I currently only have 8 years and don't want to go to a 15 even if it is a better rate.
A: While it's possible to find a short-term mortgage, a five-year term is unlikely. You might consider looking for a 10-year term, but then making payments as though it has an eight- or even five-year term. This prepayment will ensure you get the benefit of the lower rate without any long-term interest costs.
