In US there is both fixed and variable rate. Most people go with fixed rate mortgage which is typically 15 or 30 years. And you can refinance it later if you fi

In US there is both fixed and variable rate. Most people go with fixed rate mortgage which is typically 15 or 30 years. And you can refinance it later if you find better rates. There are fees for the new loan but if the rates improved a lot it might be worth it.