Although generally overlooked (less than 1% of homebuyers elect for this term), there have been times in the recent past where a flat yield curve has made the 7 year fixed rate look attractive, especially during lender promotions. The long-term payment certainty make it a favourite for rental property owners, who may be more interested in predictability than interest savings. Many lenders no longer offer the 7 year rate due to lack of demand, but look for occasional deals from those that do.