4 ms·
US commenters hopefully know they can re-finance when rates go down. Locked in, with the option of re-fi'ing. Only possible when rates drop but we're yet to hav
by 88913527 4y ago
US commenters hopefully know they can re-finance when rates go down. Locked in, with the option of re-fi'ing. Only possible when rates drop but we're yet to have a period of 30 years of continually rising rates.
- jbay808 4y agoYes, I didn't mean to imply that wasn't the case. I meant that in the US, homebuyers can fully protect themselves from the downside risk, an option that doesn't exist in many other countries (like Canada).
- hn_throwaway_99 4y agoThanks for the info. I was unaware fixed rate mortgages weren't available in other countries.
- Breza 4y agoWow, I just assumed that fixed rate mortgages were the norm everywhere. TIL.
- zrail 4y agoPersonally I locked in 30 years at 3.125% in May 2020 and I will be shocked if I ever have the opportunity to refinance lower again.