Most banks offer a fixed rate for an x number of years while you pay your mortage in 30 years. The lower x is, the lower the interest you pay during those year

Most banks offer a fixed rate for an x number of years while you pay your mortage in 30 years. The lower x is, the lower the interest you pay during those years. For example, banks can offer the following loans: - 20 year fixed rate at 1.30% - 30 year fixed rate at 1.42% So there is a possibility to gamble with the interest rates while still having a "fixed" rate.