A track record of consistently low rates has made the 4 year fixed term a great middle-ground for savvy borrowers. Indeed, 7% of Canadian borrowers have elected to go with a fixed rate since 2013, and this statistic might increase if the current trend holds. Traditionally priced slightly lower than a 5 year fixed, the 4 year term offers a great rate with ample payment safety for most borrowers. Who knows, maybe the ancient Greeks had good reason when they chose the same term for their Olympiad?