Indeed, a 30 year fixed is an oddity of the US market, not really present elsewhere. In Canada, and other G7 countries, the rate cannot be typically fixed beyo

Indeed, a 30 year fixed is an oddity of the US market, not really present elsewhere. In Canada, and other G7 countries, the rate cannot be typically fixed beyond a 3 or 5 year period. The rate is then renegotiated at the end of that term. That said, our housing markets don't look that different from the US. In fact it's worse in Canada, with housing prices escalating far beyond the affordability graph without correction, in metro areas it looks worse than many places in the US. A minor correction may be happening now, but nothing drastic. So I don't think the rate structure of US mortgages is implicated in price inflation. It's deeper structural aspects of western economies right now.