Colli Real Estate

Is it possible to get a 15 year mortgage in Canada?

I’ve been searching on every bank’s website. They have posted rates for 1-10 years, and 25 year terms. There is nothing between 10-25 years. I called RBC and they said they don’t offer 15 year mortgages. It seems in the US these are quite popular, and for good reason. Is there a bank that offers something between 10-25 in Canada?
I mean a 15 year amortization. Alright, so I guess my real question is, if one year closed rates are always the lowest, why wouldnt everyone just renew their mortgage each year to get the lowest possible rate? Why get a 25 year closed fixed when that interest rate will never be as low as a 5 year closed? Why not renew 5 times?

do you mean 15 yrs with a fixed interest rate or 15 yr amortization? I have a 15 yr mortgage amortization but a 5 yr term so I have to renew every 5 yrs. 15 yr amortization is available but I’ve never heard of 15 yr fixed rate term.

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