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A mortgage is fixed. My understanding is that long term fixed rate mortgages are a USA thing. I don't think such a thing as 30 year fixed rate mortgage exists
by minimax 13y ago
A mortgage is fixed.
My understanding is that long term fixed rate mortgages are a USA thing. I don't think such a thing as 30 year fixed rate mortgage exists in Europe, for instance.
- busterarm 13y agoI think you're right. My friend has been keeping me in the loop of his process of buying an apartment in Copenhagen (okay, Amager). When he explained the deal to me, I was thinking "oh my gosh, that's crazy, I would never want to do it that way" but every year he meets with the lending bank and refinance in both their and his favor every time. It's worked out to be a pretty good deal for him so far.
- raverbashing 13y agoI think you're correct And in some places there are 'fixed' mortgages that have some form of inflation adjustment
- waps 13y agoIt certainly exists, it's just not that affordable.