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The 30 year fixed mortgage is a product that gets massive implicit government subsidies. It is a terrible deal for the American taxpayer. Note that this product
by pxx 3y ago
The 30 year fixed mortgage is a product that gets massive implicit government subsidies. It is a terrible deal for the American taxpayer. Note that this product can simply not be available in other countries.
Are you trying to claim it's a bad deal for the mortgagor? That is a claim that's going to require quite a lot of evidence.
- i_am_programmer 3y agoThat's wrong, long term exist rates exist all over Europe. France has very popular 20 year fixed mortgages at great low rates, 30 years are not uncommon. Before recent inflation causing rate hikes, you could access interest rates between 1% - 3% for these types of deals
- tomekf 3y agoCan confirm. I have 30 year fixed at 1.2% here in Spain
- pxx 3y agoI fixed the wording to be more clear about what I meant. These are also often subsidized products. Long-term fixed rate is still a relative rarity globally, especially in the US style where there are no prepayment penalties. France is a notable exception, as specified in https://business.sdsu.edu/research/_files/_realestate/international-comparison-mortgage.pdf https://business.sdsu.edu/research/_files/_realestate/intern... , but still doesn't have the prepayment-penalty-free nature (though prepayment penalty amounts are capped by law).
- hsjqllzlfkf 3y agoJust to double check, are you sure those 30 year are fixed?
- J_cst 3y agoI have a 25y mortgage at 1.28 fixed. I accessed it less than 3 years ago. Italy