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We have these in the US too, they're called adjustable-rate mortgages.
by pc86 5y ago
We have these in the US too, they're called adjustable-rate mortgages.
- sgerenser 5y agoYes, but hardly anyone uses them because fixed rate mortgages are so much better of a deal in most cases. The government owned guarantors (Fannie/Freddie mainly) are the main reason that 30 year mortgages can be offered at such low rates in the U.S.
- pc86 5y agoMy point was that the things they're calling fixed-rate mortgages are in fact not fixed-rate mortgages.