The US has 30 yr fixed rate mortgages which is only made possible by the presence of government sponsored entities like Fanny Mae and Freddy Mac in the market.

The US has 30 yr fixed rate mortgages which is only made possible by the presence of government sponsored entities like Fanny Mae and Freddy Mac in the market. The very low interest rates charged for short fixes that we see in most of the world reflect current low borrowing costs for banks. American interest rates reflect forecast borrowing costs over the length of the loan. That's why they're much higher, they price in the expectation that over the 30 year loan period, base rates will revert back up to historically typical levels.