In the US, a 30 yr fixed is the "standard", and even that is not the overwhelming majority that it used to be, with ARM and other financial engineering. Also, T

In the US, a 30 yr fixed is the "standard", and even that is not the overwhelming majority that it used to be, with ARM and other financial engineering. Also, The ARMs tend to be lower rates than fixed in the US. My experience holding mortgages over the last 20 years in the states, ARMs were a strictly better option and would have saved me a ton of money, even with Refis by paying down the principle faster. But, The last 20 years are unlikely to continue, as it's been a long term decreasing interest rate environment, and there's a limit to how long and far that can happen. Elsewhere, fixed rates are the exception. And oddly, fixed rates are cheaper in Ireland at least, but with the caveat that you're stuck with the mortgage for the time of the fixed term, unless you are willing to pay a penalty. Forex, I could have had a ~4.x%~ 3.7% adjustable, or a ~3.5%~ 2.9% fixed for 3 years. Amortizations being what they are, the ~3.5%~ 2.9% rate pays down much faster. (edit -- just checked the actual current rates, which are probably closer to accurate than my just post coffee memory)