4 ms·
US mortgage rates are generally quoted for 30 year fixed rates (about 4.5% currently.) Rates in the U.K. are much lower but those tend to be variable rates whic
by laurencerowe 9y ago
US mortgage rates are generally quoted for 30 year fixed rates (about 4.5% currently.) Rates in the U.K. are much lower but those tend to be variable rates which will increase in line with central bank interest rates when those economies begin to recover.
- bvm 9y agoI've just signed a 3-year fixed term @ 1.49% (at which point i'll then have to find another...). I'm pretty amazed at how different it seems to be in the US.
- littlestymaar 9y agoA 3-year fixed term cannot reasonably be compared with a 30-year one though.
- emodendroket 9y agoThe 30-year fixed-rate mortgage is a result of substantial government intervention in response to a bunch of people losing their homes in the Great Depression. Prior to that, the US system was more similar to what I've heard of in other countries. https://www.marketplace.org/2013/11/25/sustainability/who-thought-30-year-mortgages-were-good-thing https://www.marketplace.org/2013/11/25/sustainability/who-th...