4 ms·

It's not in the Netherlands. Practically everyone has fixed rates here. Especially in the past few years with the low interest rates.

smcl 5y ago
Fixed for the entire duration of the mortgage, and at the rate the commenter mentioned?
- apexalpha 5y ago
  Mine is fixed for 20 on a 30 year mortgage but you can always choose between variable, 10 year fixed, 20 year or 30 year. Mortgages are (almost) always 30 years duration. I don't know what country in Europe you can't get fixed rates but it's not the Netherlands, that I know for sure. (Also there really isn't a 'Europe' for these things, every country is different)
  - jason-phillips 5y ago
    > Mine is fixed for 20 on a 30 year mortgage In the United States we don't call that "fixed". We call that an adjustable rate mortgage. For example, my mortgage is fixed at 3% for its entire 30 year term and can properly be called "fixed". People in the United States are leery of ARMs after what happened during the mortgage crisis in 2006-2011 so proper labeling is more important.
    - apexalpha 5y ago
      Ah, right. I could also have picked 30 years for a 'real' fixed mortgage. It just gets a bit more expensive. But it's definitely possible to get 30 year fixed if you really want to, every bank offers it. In the Netherlands an 'adjustable rate mortgage' means monthly, quarterly or yearly variable rates.
    - refurb 5y ago
      Adjustable rate mortgages aren't quite the same. Canada is similar to the UK - you amortize (pay back) the loan over 25-30 years. However, your mortgage is either variable (interest rate floats over time) or fixed (interest rate does change), but the loans are only for 1 to 5 years. At the end, you either "renew" your mortgage with the same lender or you "refinance" entirely. So you can have a "fixed" mortgage, but not for the entire amortization period. But you're correct, it's more similar to the ARM mortgages in the US (potentially fixed for 5-10 years, then floating after).
  - smcl 5y ago
    Ah so what I meant is that in Czech Republic I have a 30 year mortgage with a rate that is fixed at 1.99% for 5 years, and is then variable (or more likely renegotiated) after that period. I am sure I could have instead gotten a 30 year mortgage with a single rate for the duration, but I suspect it would've been higher than the rate. But if you're at a 2% for 20 years that is pretty great IMO - given that our rates are currently through the roof.

smcl 5y ago

Fixed for the entire duration of the mortgage, and at the rate the commenter mentioned?

apexalpha 5y ago
Mine is fixed for 20 on a 30 year mortgage but you can always choose between variable, 10 year fixed, 20 year or 30 year. Mortgages are (almost) always 30 years duration. I don't know what country in Europe you can't get fixed rates but it's not the Netherlands, that I know for sure. (Also there really isn't a 'Europe' for these things, every country is different)
- jason-phillips 5y ago
  > Mine is fixed for 20 on a 30 year mortgage In the United States we don't call that "fixed". We call that an adjustable rate mortgage. For example, my mortgage is fixed at 3% for its entire 30 year term and can properly be called "fixed". People in the United States are leery of ARMs after what happened during the mortgage crisis in 2006-2011 so proper labeling is more important.
  - apexalpha 5y ago
    Ah, right. I could also have picked 30 years for a 'real' fixed mortgage. It just gets a bit more expensive. But it's definitely possible to get 30 year fixed if you really want to, every bank offers it. In the Netherlands an 'adjustable rate mortgage' means monthly, quarterly or yearly variable rates.
  - refurb 5y ago
    Adjustable rate mortgages aren't quite the same. Canada is similar to the UK - you amortize (pay back) the loan over 25-30 years. However, your mortgage is either variable (interest rate floats over time) or fixed (interest rate does change), but the loans are only for 1 to 5 years. At the end, you either "renew" your mortgage with the same lender or you "refinance" entirely. So you can have a "fixed" mortgage, but not for the entire amortization period. But you're correct, it's more similar to the ARM mortgages in the US (potentially fixed for 5-10 years, then floating after).
- smcl 5y ago
  Ah so what I meant is that in Czech Republic I have a 30 year mortgage with a rate that is fixed at 1.99% for 5 years, and is then variable (or more likely renegotiated) after that period. I am sure I could have instead gotten a 30 year mortgage with a single rate for the duration, but I suspect it would've been higher than the rate. But if you're at a 2% for 20 years that is pretty great IMO - given that our rates are currently through the roof.