5 ms·
30 year fixed rate mortgages is specifically an American thing. Not sure this is the case in all European countries but I’ve heard that they typically have much
by oceanplexian 4y ago
30 year fixed rate mortgages is specifically an American thing. Not sure this is the case in all European countries but I’ve heard that they typically have much shorter terms and/or variable rates.
- sofixa 4y agoAt least in France 15-25 year fixed rate housing loans (technically it's not a mortgage because you don't guarantee the loan with the housing directly, there's an intermediary insurance to guarantee that will fight you over the housing if you stop paying) is pretty much the norm.
- v-erne 4y agoPoland is great example of this - fixed rate mortgages are almost nonexistent here. When inflation hit and the Monetary Policy Council rose intrests rates by 6,5 percent it doubled monthly installments of many people. And rates are still off by 10 points from real inflation. If they would rose those rates to the real values it would probably bankrupt hundred thoused people here.