Is my mortgage broker trying to burn us? (Canada question)?

I qualified for a 2.99 5 year at a branch but after looking over the qualifications, I had a concern. They wanted me to pay off a 4400 credit card. I can pay half but i dont want do anymore than that. SO I was asking what they had for a 3 year term. He stated that there was a branch that was offering a 2.59 but because I was qualifiying for a lower term then I would have to qualify for a higher rate. A 5%. So he said that he could most likely not do that because of My credit to debt ratio. I have never missed a payment and I make almost 6000 a month so I find this funny.

My mortgage is 324.000. My current rate is 3.7 and Im up for the term in 1 week.
I have applied for a 2.99 for 5 years and was accepted.
I want a 2.54 for 3 years. Hes saying that I cant.
He says the amount difference per month between the 2.99 and a 2.54 is 67$ so not worth it. Is that right?

Does he as a broker get more money if I do a 5 year? Is he right about me asking for a lower term that I have to qualify for a 5%?

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