> This is not like Europe where you have to re-mortgage every two years. This isn't strictly true - 2 years tends to be the shortest (with the lowest rates) yo

> This is not like Europe where you have to re-mortgage every two years. This isn't strictly true - 2 years tends to be the shortest (with the lowest rates) you can get, but longer terms are very common. In the UK, 2/3/5/10 year fixed rates are common. Many people used to go with 2 year fixed rate (for the lowest interest rates), then at the end of the term, switch to another fixed rate for the next N years. Now people are opting for 5/10 year fixed rate a lot more than they used to, especially if they can lock in to a low interest rate deal. In France you can get a fixed rate mortgage for the entire term of the mortgage. In Germany, I've seen fixed rate mortgages for 10/20/30 years advertised. Those are the only countries I'm familiar with though, not sure how other European countries differ.