Home loans in the US are usually fixed for 15 or 30 year terms. The positive end to it is that you are free to refinance at a lower rate should one come availab

Home loans in the US are usually fixed for 15 or 30 year terms. The positive end to it is that you are free to refinance at a lower rate should one come available to you. I personally missed out on 2.5% because I had bought the home too close to the time when the rate was available.