3 ms·
UK mortgages are usually variable, going up and down with changes in interest rates. You can fix, but often for just the first 5 years. Then switch to a diffe
by anexprogrammer 10y ago
UK mortgages are usually variable, going up and down with changes in interest rates. You can fix, but often for just the first 5 years. Then switch to a different mortgage if you want another 5 or 10 years fixed. Is it usual to fix for full term in the US?
With lower interest rates these days fixing is much more common than it was.
- ethbro 10y agoUS has a variety of mortgage products, but yes, a fixed rate amortized over 30 years is pretty standard. There are 5/1 ARMs and the like that are more similar to what you describe, but most rates are locked.