In the US that isn't an issue as most mortgages are fixed rate for 30 years. Once you lock in a low rate when you buy or refinance, you keep that until you sell

In the US that isn't an issue as most mortgages are fixed rate for 30 years. Once you lock in a low rate when you buy or refinance, you keep that until you sell the house. My understanding in 2008 was that many people did adjustable rate mortgages (ARM) and then couldn't afford the rate hikes and defaulted. Since then everyone is afraid of getting into an ARM.