4 ms·

> I've read that the mortgage interest rates are around 2-3% in Europe From what I understand, these aren't fixed rate 30-year. The rate can change year to yea

• jpatte 9y ago
  FYI my wife and I signed for a mortgage 4 months ago here in France for our new home. 325k€, 25-year, 1.66% interest rate, 0.8% insurance rate for complete coverage of the both of us. Both fixed rates. The rates were actually going up at that time - if we could have borrowed 6 months earlier we would likely have had even better rates. Also if you can borrow for a shorter period of time the rates get much lower.
• clappski 9y ago
  You can get variable and fixed rate mortgages in the UK, fixed typically have higher interest rates but obviously variable can outpace it depending on markets.
  • refurb 9y ago
    Fixed rate for how long? I know in Canada the longest mortgage term you can get is 10-years and you pay a substantial premium over 5 years. Mortgages are still amortized over 30. What that means is if interest rates go from 2% to 6% over a 5 year period, you have to renew your mortgage at the much higher rate. In the US, if you never move, your mortgage payment might never change for 30 years.